secwatch.observer — SEC 8-K summary
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Issuer:     Mediaco Holding Inc. (MDIA)
CIK:        0001784254
Form:       8-K
Filed at:   2022-12-12T23:59:59+00:00
Accession:  0000929638-22-001837
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 1.02, 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MediaCo divests Fairway Outdoor to Lamar for $78.6M; pays off $68M debt
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- Sold more than 3,500 analog and digital billboard faces across seven states to Lamar Advertising.
- Purchase price of $78.6 million paid in cash at closing on December 9, 2022.
- Proceeds used to repay ~$68 million senior secured credit facility in full; remaining for working capital.
- Pro forma net loss attributable to common shareholders improved from ($12.3M) to ($6.6M) for nine months ended Sep 30, 2022.
- Management says deal allows deleveraging and increased financial flexibility; company to focus on its two NYC radio stations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1784254/000092963822001837/0000929638-22-001837-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1784254/000092963822001837/a8k.htm
  HTML page:      https://secwatch.observer/filing/0000929638-22-001837

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