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VOL. 40 | NO. 4 | Friday, January 22, 2016

Nexstar to buy WKRN parent company as Meredith bows out

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NEW YORK (AP) — Nexstar said it is buying rival TV station operator Media General after Meredith agreed to allow Media General to get out of a takeover bid for Meredith.

Media General, which owns Nashville's WKRN, had offered to buy media company Meredith, which owns Nashville's WSMV, in September. About two months later, Nexstar offered to buy Media General.

Nexstar's Tennessee stations are WJKT in Jackson and WATN and WLMT in Memphis.

On Wednesday, Meredith said it agreed to allow Media General to get out of the deal. As a result, Media General will have to pay $60 million in cash to Des Moines, Iowa-based Meredith Corp.

Nexstar Broadcasting Group Inc. of Irving, Texas said Wednesday that it will pay about $2.2 billion in a mix of stock and cash for Richmond, Virginia-based Media General Inc.

Nexstar said the deal is worth $4.6 billion when debt is included.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0