In September 2015, Media General Inc. (the “Company” or “Media General”) announced a merger agreement under which the Company would have acquired all of the outstanding common stock of Meredith Corporation (“Meredith”) in a cash and stock transaction. Later in September of 2015 the Company received an unsolicited proposal from Nexstar Broadcasting Group Inc. (“Nexstar”) to acquire all of the outstanding common stock of Media General. Following discussion between the various parties, in January 2016 Media General terminated its agreement with Meredith with Media General paying Meredith a $60 million termination fee and providing Meredith with an opportunity to negotiate for the purchase of certain broadcast and digital assets owned by Media General. Immediately thereafter, the Company entered into an agreement with Nexstar whereby Nexstar will acquire all outstanding shares of Media General for $10.55 per share in cash and 0.1249 shares of Nexstar Class A common stock for each Media General share. Upon the completion of the transaction, Nexstar will change its name to Nexstar Media Group. The agreement includes additional consideration in the form of a contingent value right entitling Media General shareholders to net cash proceeds, reduced to account for Media General shareholders' ongoing ownership in Nexstar following the transaction, to the extent received from the sale of Media General's spectrum in the Federal Communication Commission's upcoming Incentive Auction discussed further in Pending Matters. It is estimated that Media General shareholders will own approximately 34% and existing Nexstar shareholders will retain approximately 66% ownership of the combined company after closing. The closing of the transaction is subject to the satisfaction of a number of conditions including, but not limited to, the approval of various matters relating to the transaction by Media General and Nexstar shareholders, the approval of the Federal Communications Commission (“FCC”), clearance under the Hart-Scott-Rodino antitrust act and certain third party consents.
Company profile
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
IRS number
540850433
Latest filings (excl ownership)
15-12B
Securities registration termination
12 Apr 17
S-8 POS
Registration of securities for employees (post-effective amendment)
12 Apr 17
15-12B
Securities registration termination
27 Jan 17
POSASR
Automatic shelf registration (post-effective amendment)
27 Jan 17
S-8 POS
Registration of securities for employees (post-effective amendment)
27 Jan 17
S-8 POS
Registration of securities for employees (post-effective amendment)
27 Jan 17
S-8 POS
Registration of securities for employees (post-effective amendment)
27 Jan 17
25-NSE
Exchange delisting
18 Jan 17
8-K
Nexstar BROADCASTING GROUP COMPLETES ACQUISITION OF Media general
17 Jan 17
10-Q
2016 Q3
Quarterly report
9 Nov 16
Latest ownership filings
SC 13G
Media General Inc
14 Feb 18
SC 13G
Media General Inc
14 Feb 17
SC 13G
Media General Inc
13 Feb 17
SC 13G
Media General Inc
10 Feb 17
SC 13G/A
Media General Inc
6 Feb 17
SC 13G
Media General Inc
30 Jan 17
4
JOHN R MUSE
19 Jan 17
SC 13D/A
Media General Inc
19 Jan 17
SC 13D/A
Media General Inc
19 Jan 17
4
Thomas J Sullivan
18 Jan 17
Institutional ownership, Q4 2023
13F holders | Current |
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Total holders | 0 |
Opened positions | 0 |
Closed positions | 0 |
Increased positions | 0 |
Reduced positions | 0 |
13F shares | Current |
---|---|
Total value | 0.00 |
Total shares | 0.00 |
Total puts | 0.00 |
Total calls | 0.00 |
Total put/call ratio | – |
Largest owners | Shares | Value |
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