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Meredith allows proposed merger partner and its suitor to exchange information

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Meredith Corp. has agreed to wait in the wings as its proposed merger partner, Media General Inc., exchanges information with Nexstar Broadcasting Group Inc. Under the agreement, Media General can exchange information with Nexstar that could lead to a potential merger of those companies and the termination of an agreed merger with Meredith. On Sept. 8, Des Moines-based Meredith announced it had agreed to be acquired by Media General, which is based in Richmond, Va., in a deal valued at $3.1 billion. Nexstar later made an unsolicited $4.1 billion offer for Media General. An  exchange of information between Media General and Nexstar will point out that Meredith deal is the best offer on the table, according to a release.

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