Nexstar Reiterates Commitment To Acquisition Of Media General - Quick Facts

(RTTNews) - Nexstar Broadcasting Group, Inc. (NXST) reiterated its commitment to acquire Media General, Inc. (MEG) and to take all necessary actions to consummate a transaction. Based on inquiry with the FCC, Nexstar believes the commission will continue to process applications during the spectrum auction, with the approval in ordinary course allowing for closing of approved transactions upon the FCC's release of the Auction Results Public Notice or shortly thereafter.

Perry Sook, CEO of Nexstar, said, "We remain fully committed to acquiring Media General and with the support of its Board and shareholders expect to consummate a transaction expeditiously. Despite Meredith Corporation's attempt to recast its proposed combination with Media General as a merger of equals, it is clear that Media General favors a transaction with Nexstar and shares our commitment to seeing it to fruition."