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Media General Reaches Agreement with Meredith Under Which Media General Will Exchange Information with Nexstar Broadcasting Group

RICHMOND, Va.--(BUSINESS WIRE)--Media General, Inc. (NYSE: MEG; www.mediageneral.com&index=1&md5=d7a1adc8e0e64e204a5fe939940...">www.mediageneral.com) (“Media General” or the “Company”) today announced that it has reached an agreement with Meredith Corporation (NYSE: MDP; www.meredith.com&index=2&md5=fd4e5fdad21fce0092a86047448ff8f...">www.meredith.com) (“Meredith”) that allows for the mutual exchange of certain non-public information with Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) (“Nexstar”). This agreement will enable both Media General and Nexstar to further evaluate Nexstar’s unsolicited September 28, 2015 proposal to acquire Media General. Accordingly, Media General will seek to enter into a confidentiality agreement with Nexstar and begin the exchange of information as soon as possible.

As previously announced on September 8, 2015, Media General entered into a definitive merger agreement with Meredith, 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.

RBC Capital Markets, LLC and Goldman, Sachs & Co. are acting as financial advisors to Media General and Fried, Frank, Harris, Shriver & Jacobson LLP and Weil, Gotshal & Manges LLP are acting as its legal counsel.

NO OFFER OR SOLICITATION

This communication is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, any securities or the solicitation of any vote in any jurisdiction pursuant to the proposed transactions or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

ADDITIONAL INFORMATION AND WHERE TO FIND IT

This communication is not a solicitation of a proxy from any shareholder of Media General, Inc. (“Media General”). In connection with the Agreement and Plan of Merger by and among Media General, Montage New Holdco, Inc. (to be renamed Meredith Media General...


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