X0306 4 2014-12-19 1 0000216539 MEDIA GENERAL INC MEG 0001553536 Conschafter James R 333 EAST FRANKLIN STREET RICHMOND VA 23219 0 1 0 0 Vice President Voting Common Stock (no par value) 2014-12-19 4 D 0 20400 D 0 D Voting Common Stock (no par value) 2014-12-19 4 D 0 17560 D 0 I 401(k) Plan Employee Stock Option (right to buy) 63.18 2014-12-19 4 D 0 8500 D 2015-01-27 Voting Common Stock (no par value) 8500 0 D Employee Stock Option (right to buy) 49.66 2014-12-19 4 D 0 12400 D 2016-01-26 Voting Common Stock (no par value) 12400 0 D Employee Stock Option (right to buy) 20.3 2014-12-19 4 D 0 18500 D 2018-01-29 Voting Common Stock (no par value) 18500 0 D Employee Stock Option (right to buy) 2.16 2014-12-19 4 D 0 12333 D 2019-01-29 Voting Common Stock (no par value) 12333 0 D Employee Stock Option (right to buy) 8.9 2014-12-19 4 D 0 5500 D 2020-01-28 Voting Common Stock (no par value) 5500 0 D Employee Stock Option (right to buy) 5.2 2014-12-19 4 D 0 6100 D 2021-01-27 Voting Common Stock (no par value) 6100 0 D Employee Stock Option (right to buy) 4.98 2014-12-19 4 D 0 8000 D 2022-01-26 Voting Common Stock (no par value) 8000 0 D Employee Stock Option (right to buy) 4.26 2014-12-19 4 D 0 10600 D 2023-01-31 Voting Common Stock (no par value) 10600 0 D Phantom Stock 2014-12-19 4 D 0 2318 D Voting Common Stock (no par value) 2318 0 D Deferred Stock Units 2014-12-19 4 D 0 23053 D Voting Common Stock (no par value) 23053 0 D On December 19, 2014, Media General, Inc. ("Media General", formerly Mercury New Holdco, Inc.), MGOC, Inc. ("MGOC", formerly Media General, Inc.) and Lin Media LLC ("Lin") consummated a business combination transaction (the "Merger") as a result of which MGOC, Inc. and Lin Media LLC each became a direct wholly owned subsidiary of Media General. Pursuant to the Merger, (i) each share of voting common stock of MGOC was converted into one share of voting common stock of Media General ("Voting Common Stock") and (ii) each share representing a limited liability company interest in Lin was converted into 1.4714 shares of Voting Common Stock. Equity-based awards granted pursuant to MGOC plans and Lin plans that were outstanding immediately prior to the Merger were converted into awards in respect of Voting Common Stock at the closing of the Merger. Options were granted under the Media General, Inc. 1995 Long-Term Incentive Plan, which became fully exercisable on 1/27/2008. Options were granted under the Media General, Inc. 1995 Long-Term Incentive Plan, which became fully exercisable on 1/26/2009. Options were granted under the Media General, Inc. 1995 Long-Term Incentive Plan, which became fully exercisable on 1/29/2011. Options were granted under the Media General, Inc. 1995 Long-Term Incentive Plan, which became fully exercisable on 1/29/2012. Options were granted under the Media General, Inc. 1995 Long-Term Incentive Plan, which became fully exercisable on 1/28/2013. Options were granted under the Media General, Inc. 1995 Long-Term Incentive Plan, which became fully exercisable on 1/27/2014. Options were granted under the Media General, Inc. 1995 Long-Term Incentive Plan, which become exercisable 1/3 per year on January 26, 2013, 2014, and 2015. Options were granted under the Media General, Inc. 1995 Long-Term Incentive Plan, which become exercisable 1/3 per year on January 31, 2014, 2015, and 2016. Units acquired under the Company's Supplemental 401(k) deferred compensation plan. Each unit is the economic equivalent of one share of common stock. Units are payable in cash following the termination of the reporting person's employment. Upon attaining age 55, the reporting person may transfer the units into an alternative investment account at any time. The reporting person received 46,107 Deferred Stock Units on November 12, 2013. One-half of such units vested on November 12, 2014, and one-half of such units will vest on November 12, 2015, subject to the reporting person's continued employment with Media General, Inc. through such date. Each vested unit entitles the reporting person to a payment in cash on the settlement date in an amount equal to the closing price per share of Media General, Inc.'s Voting Common Stock on the date of vesting. /s/ James R. Conschafter, by Andrew C. Carington, Attorney-in-fact 2014-12-23