1. Hostile takeover could derail merger of 22 News, Western Massachusetts News parent companies

    Hostile takeover could derail merger of 22 News, Western Massachusetts News parent companies

    Less than three weeks after it agreed to pay $2.4 billion to acquire rival Meredith Corp., Media General is now the target of a hostile takeover bid, which would derail the merger of the parent companies of 22 News and Western Mass News. Nexstar Broadcasting Group is bidding $4.1 billion for Media General, which owns WWLP's 22 News and The CW Springfield. The new deal would end the agreement between Media General and Meredith Corp., owners of abc 40, CBS 3 Springfield and FOX 6.

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    1. Given the compelling strategic and financial value of a combination, it is illogical that Media General's board has refused to engage with us and has instead pursued an ill-conceived and value-destructive acquisition of Meredith that would once again expose Media General shareholders to the risks of the low-margin publishing business.
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