Meredith Close to Walking Away From $2.4B Acquisition by Media General

Meredith Corp. is close to walking away from its attempt to merge with Media General, allowing Nexstar Broadcasting Group 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.The pact may include a first look at certain TV stations and digital businesses, in case Meredith wants to buy them as divestitures from a combined Nexstar-Media General, said two of the people. The termination agreement could be announced as soon as Wednesday, when Meredith releases its quarterly results. Continue reading at AdAge.com Continue reading at 'Advertising Age'

[ Advertising Age | 2016-01-27 00:00:00 UTC ]
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