Activist opposes Media General’s planned acquisition of Meredith

media genMedia General, the US television station owner, is facing pressure from an activist shareholder to call off its proposed $3.1bn deal to buy Meredith and instead sell itself to Nexstar Broadcasting Group.

The call from Starboard Value came a day after Nexstar made an unsolicited offer for Media General valuing it at $4.1bn, including debt, which Nexstar argued was “more compelling strategically and financially” than the acquisition of Meredith, the publisher of Better Homes & Gardens.

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