Media General, operator of newspapers and television stations across the Southeastern United States, has completed the sale of television stations in Lexington, Kent., and Savannah, Ga. The sales are part of a divestiture of five stations that, when completed, are expected to yield proceeds of between $100 million and $105 million, which will be used to pay down debt by $60 million. Read more.

The LeClair Ryan law firm represented Soft Tissue Regeneration, LLC, a medical device company in Earlysville, Va., in connection with a $100,000 investment round led by the Center for Innovative Technology. STR has developed technology that accelerates the regeneration of ligament tissue in the knee – a product that could transform the market for knee surgery.

LeClair Ryan press release.

CIT press release.

The senior debt rating of Markel Corp. has been upgraded from Baa2 to Baa3 by Moody's Investors Service, reflecting the insurance company's improved capitalization, commitment to maintain lower financial leverage, and fundamental operating improvements in its London Insurance Market segment. Read more.

Massey Energy shareholders have defeated one proposal asking the coal operator to disclose details of its political contributions, and another that sought details of the company's response to emissions of greenhouse gases. Read more.