Posted at 11:31 a.m., Thursday, August 30, 2007
Hearst-Argyle hires financial adviser for tender offer
Advertiser Staff
Hearst-Argyle Television Inc., the parent company of Honolulu's KITV, said Morgan Stanley will help a committee of independent directors assess an about $600 million proposed tender offer by Hearst Corp. for all the shares it doesn't already own in the broadcaster.Hearst-Argyle owns 26 stations and manages three television and two radio stations owned by Hearst Corp. Hearst announced the tender offer on Aug. 24.
