Deals
Meredith Agrees to Allow Nexstar-Media General Deal to Go Ahead
- Magazine publisher to receive $60 million breakup fee
- Pact also lets Meredith have first look at some TV stations
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Meredith Corp. walked away from its attempt to merge with Media General Inc., allowing Nexstar Broadcasting Group Inc. to proceed with its plan to acquire the TV station owner after months of negotiation.
Meredith, the owner of broadcast stations and magazines like Better Homes and Gardens and Fit Pregnancy, agreed to a termination package that includes a $60 million breakup fee. The pact also includes a first look at certain TV stations and digital businesses owned by Media General. Bloomberg reported Tuesday that the companies were close to announcing the termination agreement.