Meredith Merger with Media General Officially Dead

imageThe planned merger between Meredith Corp. and Media General is kaput, following Meredith’s agreement to terminate the deal in return for a cash payment. Media General to proceed with a separate deal that will see it acquired by Nexstar.

As part of the deal (or more properly, a deal for a non-deal) Media General is paying Meredith $60 million in cash in return for being released from its obligations in their unfulfilled contract.

For the full story read Mediapost and for further comment read The FT