Nexstar Broadcasting gets FCC approval for Media General acquisition
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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