Nexstar Prepares $2.2 Billion Offer for Media General

Meredith will have a window to make a counter offer.

Nexstar is preparing to offer $2.2 billion for Media General, the Virginia-based TV company. According to Bloomberg Business, if a deal is made, Meredith will have at least four business days to either match or increase its offer.

In early September, Media General announced it was buying Meredith for $2.4 billion. That deal hit a rough spot when Nexstar shareholders learned Nexstar wanted to acquire the company.

If the Nexstar-Media General deal goes through, it would be about 60 percent cash and 40 percent stock.