Tuesday, October 26, 2021
76.2 F
Fort Worth

Irving-based Nexstar offers about $1.9B in cash, stock for Media General

🕐 1 min read

IRVING, Texas (AP) — Irving-based Nexstar Broadcasting is trying to wedge between Media General and Meredith Corp. with a nearly $1.9 billion offer to buy Media General.

Nexstar says it will pay a combination of cash and stock valued at $14.50 for each Media General share. That represents a 30 percent premium to Media General’s closing price on Friday.

Nexstar values the deal at $4.1 billion counting debt.

Media General earlier this month made a $2.4 billion offer for Meredith Corp., which owns television stations and publishes about 20 magazines.

Nexstar Broadcasting Group Inc. calls that deal ill-conceived and says Media General’s board has refused to talk to Nexstar.

A Media General representative did not immediately return a call seeking comment.

Related Articles

Our Digital Sponsors

Latest Articles

Texas Rangers
Fort Worth Business Press Logo
This advertisement will close in
Click here to continue to Fort Worth Business Press

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate