Nexstar's $4.6B Media General acquisition gets FCC approval
January 13, 2017
Publishing | Richmond, VA | Corporate Acquisition
The US Federal Communications Commission has decided that the acquisition of Media General (NYSE: MEG) by Nexstar Broadcasting (NASDAQ: NXST) does not harm the public interest. The FCC agreed to suspend its rule preventing the deal between the two broadcasters during an ongoing spectrum auction. The transaction had already secured approval from the US Department of Justice, which determined that it satisfied antitrust regulations. Between DOJ and FCC restrictions, Nexstar and Media General will have to divest more than 10 stations.