Media General CEO, Marshall Morton, will step down at year’s end

It’s been a crazy year for the local media company and it will end with the exit of its president and CEO.

August 22, 2012; 10:01 AM • by Nathan Cushing

Richmond-based Media General announced that its president and CEO, Marshall N. Morton, 66, will step down at the end of the year. Morton has been with Media General for 23 years. He will be replaced by George L. Mahoney, 60, the current vice president of growth and performance.

Morton will exit after a volatile year for the media community. In June, Media General finalized the sale of all but one of its newspapers to Warren Buffett’s Berkshire Hathaway for $142 million cash. Last month, the media company announced it had laid off approximately 75 employees.