Hearst Corp. has increased its bid for the shares of the Hearst-Argyle station group that it doesn’t already own to $4.50 a share, up from $4, MediaPost reports. Hearst said discussions with two independent Hearst-Argyle directors led the company to increase the bid, and that the company now expects the directors to endorse the deal, the trade paper says.
—Aimee Picchi