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Acquisition   The FCC granted the divestiture applications

Nexstar Broadcasting gets FCC approval for Media General acquisition

Nexstar BroadcastingNexstar Broadcasting Group said that the Federal Communications commission (FCC) approved its acquisition of Media General from the shareholders of Media General to Nexstar.

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READ MORE Nexstar Broadcasting made a $14.5 per share offer for Media General

The FCC further granted the divestiture applications that have been filed to bring Nexstar into compliance with the local and national television ownership rules.

In addition, the commission waived prohibition on the consummation of the transaction during the broadcast television spectrum incentive auction, which remains ongoing.

On January 27, 2016, Nexstar and Media General entered into a definitive merger agreement whereby Nexstar will acquire all outstanding shares of Media General in an accretive cash and stock transaction valued at approximately $4.6 billion.

Other than customary closing matters, Nexstar and Media General have completed all of the steps and satisfied all of the merger agreement conditions necessary to finalize the planned transaction.

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