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The company, which has 23 television stations, posted record revenue in the third quarter at its broadcast division.
The company, Freedom Communications, said it had appointed Alan Bell, most recently president of its broadcast division, as chief executive.
Mr. Shapiro abruptly canceled her program in October and moved her over to NBC News's broadcast division.
The changes at NBCUniversal came after its NBC broadcast division and cable channels were sold together to advertisers during the 2013-14 upfront market.
Absorbing BSkyB "would make the direct broadcast division look a bit healthier," said Tim Westcott, an analyst at Screen Digest in London.
Media General's broadcast division had an expected fall in revenue compared with 2006 sales, when it benefited from heavy political advertising.
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News Corporation is apparently not sitting on its hands, waiting for the company to split into publishing and broadcast divisions in the new year.
After four years of combat between the government and Argentina's biggest media conglomerate, the Clarín group, Supreme Court judges declared constitutional on Tuesday a law that forces media companies to shrink their broadcast divisions.
It needs content at a reasonable cost in order to establish its fledgling Internet ventures, as well as its cable and network broadcast divisions.
In 1970, the CTW created a "non-broadcast" division responsible for creating and publishing books and Sesame Street Magazine.
He told them, according to the NBC broadcast, "the division is ours, it's ours tonight".
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