Media General Will Buy Meredith for $2.4 Billion

New company will be third-largest TV affiliate owner in U.S.

Media General Inc. announced today that it will buy Meredith Corp., in a cash and stock deal valued at $2.4 billion, which will create the third-largest owner of TV affiliates in the U.S.

Meredith shareholders will receive cash and stock valued at $51.53 per share, the companies said in a joint statement Tuesday. Media General shareholders will get one share of the new company for each one they owned in the previous firm. The deal is valued at $3.1

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