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PROPOSED MEREDITH BUYER AGREES TO BE ACQUIRED ITSELF
Jan. 11, 2016
Des Moines Register reports:
The proposed buyer of Des Moines-based Meredith Corp. has reached a deal on a rival bid, the company said Thursday.
Virginia-based Media General announced it had reached a deal with Texas-based Nexstar Broadcasting. Under the deal, Nexstar would acquire Media General. A deal struck with Nexstar would mean the end of a deal Media General has to buy Meredith.
The Media General-Meredith proposal is still in place, however, meaning the Nexstar deal is not a sure thing.
The future of Meredith, a women's magazine publisher and television station owner, has been in flux for the last few months. Media General and Meredith announced their deal in early September, but Nexstar came in a few weeks later with its own proposal to buy Media General.
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