“Meredith is a strong and growing company with a powerful and diverse media portfolio. We have a successful record of delivering increased Total Shareholder Return, and look forward to enhancing our financial and competitive position with the benefits received.”
Nexstar Broadcasting Group, Inc. and Media General, Inc. announced today that they have entered into a definitive merger agreement whereby Nexstar will acquire all outstanding shares of Media General for $10.55 per share in cash and 0.1249 of a share of Nexstar Class A common stock for each Media General share.
Nexstar Broadcasting Group, Inc. completed its previously announced acquisition of Media General, Inc. in an accretive cash and stock transaction valued at approximately $4.6 billion on Tuesday.