George Mahoney, Media General's VP of growth and performance, will succeed Marshall Morton as president and CEO of Media General when Morton retires at the end of the year. He will hold a VP/COO title until January 1.
Morton joined Media General as CFO in 1989 and was named president and CEO in 2005.
"[Marshall] guided Media General through unprecedented change in the media industry and a severe economic downturn," said J. Stewart Bryan III, chairman of the board. "I thank Marshall for his innumerable contributions to Media General, and I wish him and his wife, Caroline, all the best in retirement."
As VP, growth and performance, Mahoney has been responsible for Media General's digital media and mobile operations, as well as central broadcast television operations, including master control, traffic and graphics. He joined Media General in 1993 as general counsel and corporate secretary and was elected a corporate VP in 2006. He was assistant general counsel for Dow Jones & Company from 1982-1993.
"A strong company leader with deep media industry experience, he is the right person to lead the company forward as a pure television broadcaster with long-term financing arrangements that provide flexibility for future growth," said Bryan.
Media General sold all but one of its newspapers to Berkshire Hathaway earlier this year, repositioning itself as a pure-play broadcaster.
"Media General has a very promising future as a television broadcaster, with our portfolio of top ranked stations located in attractive markets," said Mahoney. "I am honored to have the opportunity to lead the company forward at this time of great opportunity. We will capitalize on the new frontiers afforded by technology and evolving consumer preferences. As we grow, we will uphold our commitment to trusted journalism and to our values of integrity, quality and innovation."