Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) has completed its previously announced acquisition of Media General, Inc. (NYSE: MEG) in an accretive cash and stock transaction valued at approximately USD 4.6bn, the company said.
Reflecting its broadened base of operations and capabilities, Nexstar has changed its name to Nexstar Media Group, Inc.
The company´s shares will continue to trade on the NASDAQ Global Select Market under the symbol “NXST.”
BofA Merrill ly nch acted as financial advisor and Kirkland & Ellis LLP acted as legal counsel to Nexstar in connection with the transaction. RBC Capital Markets, LLC and Goldman, Sachs & Co. acted as financial advisors to Media General and Fried, Frank, Harris, Shriver & Jacobson LLP and Weil, Gotshal & Manges LLP acted as its legal counsel.
Nexstar Media Group is a leading diversified media company that leverages localism to bring new services and value to consumers and advertisers through its traditional media, digital and mobile media platforms. Nexstar owns, operates, programs or provides sales and other services to 171 television stations and related digital multicast signals reaching 100 markets or approximately 39% of all US television households.