President James S. Evans of Media General...

President James S. Evans of Media General said its board, in a special meeting, “determined that it was inappropriate” to reconsider Burt Sugarman’s “purported” $70-a-share merger proposal. Sugarman, a financier and Hollywood producer, had increased his offer Monday from $61.50 for the Richmond, Va.-based newspaper-television empire. Evans said a federal judge recently confirmed that Sugarman’s proposal could not be adopted without approval of the firm’s Class B stock, controlled by the family of Chairman D. Tennant Bryan. Based on the continued opposition of the Bryan family, Evans said, “any further consideration by the board would be futile.”