WASHINGTON, April 1, 2009 (GLOBE NEWSWIRE) -- Finkelstein Thompson LLP is investigating potential claims arising out of the proposed acquisition of Hearst-Argyle Television, Inc. ("Hearst-Argyle") (NYSE:HTV) by Hearst Corporation ("Hearst").
On March 25, 2009, Hearst announced it intends to make a tender offer for all of the outstanding shares of Series A Common Stock of Hearst-Argyle not already owned by Hearst for $4.00 per share in cash. Following consummation of this transaction, Hearst reportedly intends to acquire the remaining shares of Hearst-Argyle through a "short form" cash merger at the same per share price paid in the tender offer. In particular, the investigation centers on potential unfairness of the price and the potentially coercive nature of this tender offer.
Legal proceedings have been commenced by Hearst-Argyle shareholders challenging the fairness of this proposed transaction. If you are a Hearst-Argyle shareholder, we welcome inquiries concerning your rights and interests in this matter. Please contact our Washington, D.C. office by calling us toll-free at (877) 337-1050, or by email at contact@finkelsteinthompson.com.