Media General Rejects Nexstar Bid, Recommends Meredith Merger

  • Nexstar `refuses to properly price' deal: Media General says
  • Proposal `at the limits of reasonable multiples,' Nexstar says

Media General Inc. rejected a takeover offer by Nexstar Broadcasting Group Inc. of about $2.1 billion, saying it falls short and doesn’t take into account projections for future growth of the TV-station owner.

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