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Two of the complaints also allege breach of fiduciary duty in connection with the approval of the sale of a television station by AT&T to Hicks Muse and an amendment to a Private Market Value Guarantee Agreement that was entered into simultaneously with the merger agreement.
NASDAQ:LINB) announced that as a result of the appraisal process under the Private Market Value Guarantee Agreement (PMVG) between LIN and McCaw Cellular Communications Inc.
and McCaw Cellular will enter into a Private Market Value Guarantee which will require McCaw Cellular, effective January 1998, either to acquire all the outstanding shares of LIN Television Corp.
to act jointly on behalf of the Independent Directors as appraisers in accordance with the Private Market Value Guarantee ("PMVG") agreement between LIN and McCaw Cellular Communications Inc.