BALA CYNWYD, Pa., April 1, 2009 (GLOBE NEWSWIRE) -- Law office of Brodsky & Smith, LLC announces that it is investigating the legal ramifications of the proposed acquisition of Hearst-Argyle Television, Inc. ("Hearst-Argyle" or the "Company") (NYSE:HTV) by the Hearst Corporation ("Hearst"). Hearst has offered Hearst-Argyle shareholders $4.00 a share for their stock. Hearst then plans to acquire remaining shares through a short-form merger. In 2007, Hearst failed in a $600 million bid to buy 27% of Hearst-Argyle it did not already own. The offers do not appear to be fair to Hearst-Argyle shareholders given that the Company's stock was trading at over $23.00 a share in September 2008 and, as recently as January 2009, the stock traded at $6.50 -- $2.50 a share more than the current Hearst offer.
If you are a Hearst-Argyle shareholder and wish to discuss the legal ramifications of the proposed acquisition by Hearst, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at clients@brodsky-smith.com, or by calling toll free 877-LEGAL-90.