Follow up now on a story we posted 44 minutes ago…
Meredith and Media General have jointly announced that their previous deal to merge is off.
Both companies agreed to terminate the deal. As part of the settlement Meredith will receive $60 million in cash and retain the “opportunity” to purchase certain Media General “broadcast and digital assets.”
Meanwhile Nexstar has entered into an agreement to acquire Media General for $4.6 billion.
The now failed Meredith/Media General merger was watched closely in Connecticut because of its potential impact on WFSB and WTNH.
Developing…
