Followups – July 2016

Shareholders approve  the merger of Nexstar and Media General
The merger of Richmond-based Media General Inc. and Texas-based Nexstar Broadcasting Group Inc. moved closer to completion in June when shareholders from both companies approved the $4.6 billion deal.

The combined company would be based in Irving, Texas, and have 171 television stations across the country. The merger is expected to close later this year.

Virginia Business reported in its June issue that Media General has made a $100,000 gift to the Virginia Historical Society in honor of its late chairman, J. Stewart Bryan III, who died in January. The company also donated many of its records to the VHS Reynolds Business History Center.

VHS has used the Media General gift to establish an endowment fund for research, scholarship and programming on the history of American journalism and freedom of the press.

Old Dominion to use $35 million gift to build a new art museum
Old Dominion University plans to create a new art museum with donations valued at $35 million from benefactors Richard and Carolyn Barry.

The gift is the largest in ODU’s history.  The museum is expected to hold its grand opening in 2018.  

Richard Barry had a 40-year career at Landmark Media Enterprises and its predecessor, Landmark Communications, where he was vice chairman.  He was rector of ODU’s board of visitors in the 1980s.  Carolyn Barry is a master docent at the Chrysler Museum of Art and serves on the museum’s board of trustees.

June’s issue included lists of major donations made by individuals, corporations and foundations in 2015. An extensive list of this year’s donations will be included in next June’s issue.