Nexstar Offers About $1.9B in Cash, Stock for Media General

September 28, 2015 12:56 PM

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Nexstar Broadcasting is trying to wedge between Media General and Meredith Corp. with a nearly $1.9 billion offer to buy Media General.

Irving, Texas-based Nexstar says it will pay a combination of cash and stock valued at $14.50 for each Media General share. That represents a 30 percent premium to Media General's closing price on Friday.

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