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Actionable news in NXST: Nexstar Broadcasting Group, Inc.,

Media General To Engage In Talks With Nexstar, To Recommend Deal With Meredith

( - Media General, Inc. (

) said its Board of Directors has unanimously determined to engage in negotiations with Nexstar Broadcasting Group, Inc. ( ) regarding the non-binding, unsolicited proposal from Nexstar to acquire all outstanding common stock of Media General in cash and stock.

The company's definitive merger agreement with Meredith Corp. (

) allows the company to explore a potential transaction and negotiate with a third party making an acquisition proposal.

Media General also informed...