…in a public statement obtained by The Laurel late Wednesday Media General makes clear the latest offer from Nexstar “under-values” Media General and MG continues to recommend to its board that it approve plans to merge with Meredith Corporation.
From the document:
As previously announced on September 8, 2015, Media General entered into a definitive merger agreement with Meredith Corporation under which Media General will acquire all of the outstanding common stock of Meredith in a cash and stock transaction. The Board of Directors of Media General continues to recommend the proposed transaction with Meredith.
As you know WTNH is owned by Media General and WFSB is owned by Meredith. A merger would force the sale of one of the two.
