Media General rejects Nexstar's offer, open to talks

December 9, 2015 9:58 PM

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U.S. regional TV broadcaster Media General Inc (MEG.N) on Wednesday rejected a takeover bid from Nexstar Broadcasting Inc (NXST.O) saying the offer was at a discount to its earlier proposal.

Nexstar had increased its cash-and-stock offer to about $16.31 per Media General share, based on Tuesday's close, from its previous offer of $14.50 per share.

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