The Liberty Corporation

The Liberty Corporation

The Liberty Corporation (Public NYSE: [http://www.nyse.com/about/listed/lcddata.html?ticker=LC LC] ) was a media corporation originally based out of Greenville, South Carolina. At its peak, "The Liberty Corporation" owned 15 network-affiliated television stations across the Midwest and Southern regions of the United States. On top of that, cable advertising sales group CableVantage Inc., video production facility Take Ten Productions and broadcast equipment distributor Broadcast Merchandising Corporation were also some of its assets.

The company formerly held Liberty Life Insurance Company and Pierce National Life Insurance Company, which it sold in 2000 to Royal Bank of Canada.

After the sale of its insurance division, the company employed approximately 1,400 people. The executive officers included chairman and CEO W. Hayne Hipp(who, with his family, owned about 25% of the company before its sale to Raycom Media), president and COO James M. Keelor, CFO Howard L. Schrott.

In August 2005, Liberty agreed to be bought out by Raycom Media. [ [http://today.reuters.com/investing/financeArticle.aspx?type=mergersNews&storyID=2005-08-26T001218Z_01_N25706816_RTRIDST_0_MEDIA-LIBERTYCORP-UPDATE-3.XML] Dead link|date=May 2008] Raycom paid $987 million, or $47.35 per Liberty share, and assumed Liberty's debts of approximately $110 million in the buyout. The acquisition was completed in February 2006; After the closing of the purchase of Liberty, Raycom sold a number of stations. Of the stations that were sold, two were from the Liberty portfolio. They included ABC WWAY-TV in Wilmington, North Carolina to Morris Multimedia and CBS affiliate KGBT-TV in Harlingen-McAllen-Brownsville, Texas to Barrington Broadcasting.

References


Wikimedia Foundation. 2010.

Игры ⚽ Поможем сделать НИР

Look at other dictionaries:

  • Liberty Media — The Liberty Media Corporation is an American media conglomerate and the control is exercised by engineer Dr. John Malone, with a majority of the voting shares. The company is divided into three tracking stocks:* Liberty Interactive Group… …   Wikipedia

  • Liberty ship — Liberty ships were cargo ships built in the United States during World War II. They were British in conception but adapted by the U.S., cheap and quick to build, and came to symbolize U.S. wartime industrial output. Based on vessels ordered by… …   Wikipedia

  • Liberty of St Albans — The Liberty of St Albans was a liberty situated within Hertfordshire, but enjoying the powers of an independent county. It was originally associated with the abbey of St Albans, and later with the borough corporation. It was absorbed by… …   Wikipedia

  • Liberty Head nickel — The Liberty Head nickel, sometimes referred to as the V nickel due to its reverse design, was an American nickel five cent piece. Officially, it was minted from 1883 to 1912; a few patterns were struck in 1881 and 1882, and five pieces were… …   Wikipedia

  • Liberty City (Grand Theft Auto) — The Grand Theft Auto IV rendition of Liberty City features a more striking resemblance to New York City. Liberty City is a fictional city in Rockstar Games video games series Grand Theft Auto, based primarily on several major cities including New …   Wikipedia

  • Liberty Station — is a convert|361|acre|km2|sing=on project that involves the conversion of San Diego, California s former Naval Training Center into a community that will include several separated districts. [http://www.tndwest.com/libertystation.html] The… …   Wikipedia

  • The Trap (television documentary series) — The Trap: What Happened to Our Dream of Freedom Title screen of The Trap Genre Documentary serie …   Wikipedia

  • Liberty Tree Foundation for the Democratic Revolution — is an American non governmental organization rooted in the belief that the American Revolution is a living tradition whose greatest promise is democracy. Their purpose is to foster a broad based democracy movement in the United States. Their… …   Wikipedia

  • The United States of America —     The United States of America     † Catholic Encyclopedia ► The United States of America     BOUNDARIES AND AREA     On the east the boundary is formed by the St. Croix River and an arbitrary line to the St. John, and on the north by the… …   Catholic encyclopedia

  • Liberty (1924-1950) — Liberty was a general interest weekly magazine, originally priced at five cents and subtitled, A Weekly for Everybody. It was launched in 1924 by McCormick Patterson, the publisher until 1931, when it was taken over by Bernarr Macfadden until… …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”