Nexstar Makes Unsolicited $4.1 Billion Offer for Media General

Not so fast, Meredith Corp. Three weeks after the magazine publisher and TV station owner Media General Inc. announced  a $2.4 billion merger, Nexstar Broadcasting Group Inc. has swooped in with an unsolicited offer for Media General. Nexstar's proposal sweetens the deal for Media General shareholders: a $4.1 billion cash, stock and debt deal. Nexstar chairman and CEO Perry Sook is offering $14.50 a share for the company, a 30 percent premium over Media General's closing price on Friday. "The transaction we are proposing would be a transformational event for both Nexstar and Media General shareholders and would deliver superior, immediate and long-term value to Media General's shareholders compared with Media General's proposed acquisition of Meredith," said Sook in a statement. "Our proposal would also enable Nexstar and Media General shareholders to participate in the near- and long-term upside of a pure-play broadcasting company with expanded audience reach, a more diversified portfolio, and a significantly stronger financial profile, including substantial free cash flow per share, led by a proven broadcast and digital media management team." As it looks to torpedo the Meredith/Media General deal, Nexstar noted that its proposal would allow Media General to avoid a return to publishing, as Meredith owns several magazines, including Better Homes & Gardens, Shape, Parents and Family Circle. Media General, which began as a newspaper company, sold most of its print... Continue reading at 'AdWeek'

[ AdWeek | 2015-09-28 00:00:00 UTC ]
News tagged with: #family circle #print publications #berkshire hathaway #lin media

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Media Dealmakers Summit: "The Web Is Dead"

New York--There was a question during the morning session today at the Media Dealmakers Summit that crystallized what a lot of people are thinking about the future. "Are tablets and e-readers the future of media?" For George F. Colony, CEO of Forrester Research, the answer was simple: "Yes.... Continue reading at Folio Magazine

[ Folio Magazine | 2011-02-04 00:00:00 UTC ]
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Sphere makes Wicked acquisition

Written By: Katie Allen Little, Brown imprint Sphere has acquired a "shocking" debut novel about the murder of a little girl. Editorial director Catherine Burke acquired UK and Commonwealth rights (excluding Canada) including audio and ebook in The Wicked Girls by Alex Marwood from Laetitia... Continue reading at The Bookseller

[ The Bookseller | 2011-02-02 00:00:00 UTC ]
More news stories like this | News stories tagged with: #katie allen #wicked girls #alex marwood #laetitia rutherford

Report: Worldwide App Revenue To Exceed $15 Billion in 2011

Mobile app downloads will increase 117 percent to 17.7 billion worldwide while mobile application store revenue will grow to more than $15.1 billion in 2011, a 190 percent increase, according to Gartner Inc. In 2010, app stores generated an estimated $5.2 billion from both download sales and... Continue reading at Folio Magazine

[ Folio Magazine | 2011-01-28 00:00:00 UTC ]
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Now Public, Demand Media Has Bigger Market Cap Than NYT

Demand Media started trading on the New York Stock Exchange this week, making it one of the first IPOs of 2011 and certainly one of the largest media IPOs that will be seen all year. Continue reading at Folio Magazine

[ Folio Magazine | 2011-01-27 00:00:00 UTC ]
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Summit Business Media To File for Chapter 11

Summit Business Media has joined the ranks of publishers seeking to reorganize and slash debt through a voluntary Chapter 11 bankruptcy. Continue reading at Folio Magazine

[ Folio Magazine | 2011-01-26 00:00:00 UTC ]
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Media Decoder: TED Starts an E-Books Line

TED, known for exclusive events and online videos of speeches by celebrities like Al Gore, Bono and Malcolm Gladwell, plans to publish its own short ebooks, beginning with three that went on sale Wednesday. Continue reading at The New York Times

[ The New York Times | 2011-01-26 00:00:00 UTC ]
More news stories like this | News stories tagged with: #media decoder #online videos #al gore #malcolm gladwell #short ebooks

Survey: Organic Growth, New Devices To Have Biggest Impact On Media Over Next Two Years

Organic growth will be the primary driver of the media business over the next 12 to 24 months, according to nearly 500 executives in the information, marketing services and technology sectors, according to the first annual Media Growth survey from investment banker The Jordan, Edmiston Group and... Continue reading at Folio Magazine

[ Folio Magazine | 2011-01-24 00:00:00 UTC ]
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For Publishers, Who Are the Gatekeepers of Social Media?

Ten years ago, as the prospect of monetizing Web sites started becoming a reality for publishers, different departments butted heads over prime real estate: editorial wanted it for content; sales wanted it for advertising; marketing wanted it for promotion. Today, as the emphasis shifts away... Continue reading at Folio Magazine

[ Folio Magazine | 2011-01-20 00:00:00 UTC ]
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Oxford Media Convention: Trinity Mirror's Sly Bailey on the 'need to educate' Hunt

Sly Bailey, the chief executive of newspaper publisher Trinity Mirror, has issued cutting criticism of the culture secretary Jeremy Hunt's understanding of the full media issues regarding News Corporation's relationship to BSkyB. Continue reading at Media Week

[ Media Week | 2011-01-19 00:00:00 UTC ]
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