Meredith merger gets boost from buyer’s decision
A Texas-based company wanting to acquire the would-be buyer of Meredith Corp. said today it has “reached an impasse” over the deal, reports DesMoinesRegister.com. Nexstar Broadcasting Group proposed earlier this year to acquire Media General, a Virginia-based media company. If approved, the Nexstar-Media General deal would have scuttled Media General’s own acquisition of Des Moines-based Meredith. In September, Media General announced it planned to acquire Meredith for $2.4 billion, not including debt. The deal would combine Media General’s catalog of 71 local TV stations and digital assets with Meredith’s 17 local television stations and the content created by its list of women-focused magazines.