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Meredith Said Close to Allowing Nexstar's Media General Deal

  • Parties said to be near agreement on termination package
  • Meredith may make announcement Wednesday with earnings
Updated on

Meredith Corp. is close to walking away from its attempt to merge with Media General Inc., allowing Nexstar Broadcasting Group Inc. to acquire the TV station owner after months of negotiation, according to people familiar with the matter.

Meredith, the owner of broadcast stations and magazines like Better Homes and Gardens and Fit Pregnancy, is close to agreeing to a termination package that would include a $60 million breakup fee, said the people, who asked not to be named because the negotiations are private.