mardek1995 200 Posted January 9, 2016 Share Posted January 9, 2016 Because stations in markets like Tampa/St. Petersburg make more money. And I'm thinking that WHAG is Nexstar's cash cow for that reason Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-142983 Share on other sites More sharing options...
Thundershock MN 169 Posted January 11, 2016 Share Posted January 11, 2016 So, I guess it OFFICIAL for Nexstar & Media General- http://www.ftvlive.com/todays-news/2016/1/7/nexstar-wins-media-general-or-do-they http://www.mediageneral.com/press/2016/jan7_2016.html What?? Media General and Nexstar is far from "Official" right now. Quote from Media General's SEC filing this past Thursday: "I want to emphasize that we have not signed a definitive agreement with Nexstar and cannot do so unless and until our agreement with Meredith has been terminated. If Meredith does not agree to terminate our agreement, we intend to hold a shareholder meeting as soon as possible during which our shareholders will vote on the Meredith transaction. If the Meredith transaction is not approved by our shareholders at that meeting, we are permitted to terminate our agreement with Meredith and enter into a merger agreement with Nexstar. As of now, our Board continues to recommend the proposed transaction with Meredith." -Vincent Sadusky, President and CEO, Media General The press release you linked to was also filed with the SEC and contains language almost identical to the quote above. All they really did was agree to the framework of a deal that they can proceed with if the merger with Meredith falls through. Part of that is a result of the FCC's "quiet period" that is coming up. If they didn't hammer out an agreement with Nexstar prior to the "quiet period" they would have been stuck waiting until the conclusion of the auction to resume negotiations. Now if the Meredith deal falls through they have agreement with Nexstar they can execute should they chose to do so. Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-143066 Share on other sites More sharing options...
Breaking News 829 Posted January 11, 2016 Share Posted January 11, 2016 Here the link from tvspy/adweek; the on going saga of "Corporations" http://www.adweek.com/tvspy/nexstar-says-its-still-into-media-general-calls-meredith-misguided/161531 Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-143123 Share on other sites More sharing options...
promoguy98 253 Posted January 24, 2016 Share Posted January 24, 2016 J. Stewart Bryan III, current Media General Chairman and the former CEO, passed away Saturday. Not sure how this will factor into the ownership battle for the company between Nexstar and Meredith. Story from the Richmond Times-Dispatch http://www.richmond.com/business/article_e454b2e6-a65e-5936-8e69-e6895ab1b914.html As a courtesy to others and considering the potential implications of this, I posted the same info under the catch-all "Out and About" thread. Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144065 Share on other sites More sharing options...
CircleSeven 1955 Posted January 26, 2016 Share Posted January 26, 2016 Bloomberg is posting that there could be a deal for Meredith to walk away from its merger with MG. Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144206 Share on other sites More sharing options...
promoguy98 253 Posted January 26, 2016 Share Posted January 26, 2016 Wow! Sucks to be a MG station when/if Nexstar gets a hold of them. https://www.youtube.com/watch?v=zzhVgWwS_gM Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144208 Share on other sites More sharing options...
TheRolyPoly 2449 Posted January 26, 2016 Share Posted January 26, 2016 I feel like I wanna throw up after reading this. I'm not sure if I'm ready to hear "Local 10" (WAVY) or "Local 8" (WFLA) or "WTNH News" (WTNH) or even "Channel 8 News" (WISH). Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144209 Share on other sites More sharing options...
atlnews2 591 Posted January 26, 2016 Share Posted January 26, 2016 :eek::eek: NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144212 Share on other sites More sharing options...
atlnews2 591 Posted January 26, 2016 Share Posted January 26, 2016 So for reminders Nexstar and Media General have conflicts in the following markets: Roanoke Quad Cities Green Bay Lafayette Terre Haute Fort Wayne What stations would be divested is anyone's guess. If this deal does go through (still holding out hope that it doesn't) I can only hope that Standard General gets a large stake in the new company and that Soohyung Kim pushes for a major culture / business change Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144213 Share on other sites More sharing options...
mre29 1537 Posted January 27, 2016 Share Posted January 27, 2016 What stations would be divested is anyone's guess. If this deal does go through (still holding out hope that it doesn't) I can only hope that Standard General gets a large stake in the new company and that Soohyung Kim pushes for a major culture / business change ...including the design and naming of their station websites, I'm hoping. Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144254 Share on other sites More sharing options...
GoldenShine9 1513 Posted January 27, 2016 Share Posted January 27, 2016 Regarding this deal, as structured, does MG get a piece of Nexstar as well? I wonder if existing Nexstar stations will flip towards a bit of the old LIN Digital structure as a result. Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144260 Share on other sites More sharing options...
mre29 1537 Posted January 27, 2016 Share Posted January 27, 2016 Regarding this deal, as structured, does MG get a piece of Nexstar as well? I think MG will be a piece of Nexstar. Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144261 Share on other sites More sharing options...
mardek1995 200 Posted January 27, 2016 Share Posted January 27, 2016 I think MG will be a piece of Nexstar. A very large piece of Nexstar. Almost all of their stations are in the same state as Nexstar's stations Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144271 Share on other sites More sharing options...
TheRob 938 Posted January 27, 2016 Author Share Posted January 27, 2016 The Meredith deal is dead. http://www.nasdaq.com/article/meredith-media-general-agree-to-terminate-merger-deal--quick-facts-20160127-00519 Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144276 Share on other sites More sharing options...
promoguy98 253 Posted January 27, 2016 Share Posted January 27, 2016 Adding onto what TheRob just posted, see link. The MG/Nexstar deal is ON. http://www.mediageneral.com/press/2016/jan27_2016nexs.html May be time for some to brush up the ol' resume. NEXSTAR BROADCASTING GROUP ENTERS INTO DEFINITIVE AGREEMENT TO ACQUIRE MEDIA GENERAL FOR $4.6 BILLION IN ACCRETIVE CASH AND STOCK TRANSACTION Combined Company, To Be Named Nexstar Media Group, Will Be a Leading, Diversified Local Marketing and Content Platform with Strong Financial and Growth Profile Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144279 Share on other sites More sharing options...
newsie 11 Posted January 27, 2016 Share Posted January 27, 2016 I work at an MG station and the combined reaction in the newsroom this morning was complete disgust. Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144281 Share on other sites More sharing options...
mre29 1537 Posted January 27, 2016 Share Posted January 27, 2016 So....congratulations to Meredith for escaping? Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144282 Share on other sites More sharing options...
tyrannical bastard 3955 Posted January 27, 2016 Share Posted January 27, 2016 My deepest sympathies to everyone at Media General. They weren't a perfect company, and they may have made some stupid moves along the way, but Nexstar is about to take this company and its stations into the toilet. Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144283 Share on other sites More sharing options...
Nelson R. 569 Posted January 27, 2016 Share Posted January 27, 2016 The timing of this is very interesting in Raleigh-Durham as WNCN is about to switch to CBS. Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144284 Share on other sites More sharing options...
mre29 1537 Posted January 27, 2016 Share Posted January 27, 2016 You have to wonder what Vincent Sandusky and the other former LIN people who have been running MG are thinking right now. Are they all supportive of this? And just how many stations will the "new" Nexstar have after this merger? More than Sinclair? Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144286 Share on other sites More sharing options...
GoldenShine9 1513 Posted January 27, 2016 Share Posted January 27, 2016 From what I can see the new company is 66% Nexstar and 34% Media General. I'd be quite happy if I was working at a Meredith station as any sale would likely be to a reputable company. Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144287 Share on other sites More sharing options...
tyrannical bastard 3955 Posted January 27, 2016 Share Posted January 27, 2016 So....congratulations to Meredith for escaping? The folks at WALA are likely breathing a sigh of relief that they're NOT going to be sold AGAIN! Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144288 Share on other sites More sharing options...
GoldenShine9 1513 Posted January 27, 2016 Share Posted January 27, 2016 You have to wonder what Vincent Sandusky and the other former LIN people who have been running MG are thinking right now. Are they all supportive of this? And just how many stations will the "new" Nexstar have after this merger? More than Sinclair? 171. Need to get rid of 6. Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144289 Share on other sites More sharing options...
GoldenShine9 1513 Posted January 27, 2016 Share Posted January 27, 2016 The folks at WALA are likely breathing a sigh of relief that they're NOT going to be sold AGAIN! Meredith might get the first say on the conflicts but none are in top-50 markets. Gray is in only one of the conflict markets though? Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144291 Share on other sites More sharing options...
atlnews2 591 Posted January 27, 2016 Share Posted January 27, 2016 Absolutely disgusting. I don't know what's worse, this or Sinclair buying Allbritton You can say goodbye to WAVY's classic Newswire package Link to comment https://localnewstalk.net/topic/14688-nexstar-bids-for-media-general/page/7/#findComment-144292 Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.