Meredith Tries Fattening Media General Offer

Meredith Corp. is looking to sweeten the pot to complete a $2.4 billion merger with Media General and thwart a rival offer from Nexstar Broadcasting Group. Although it is technically getting acquired, Meredith, under CEO Steve Lacy, is considering a role reversal, whereby it would kick in cash to win the support of Media General’s board, sources say.

Meredith Sued Over Media General Merger

The proposed acquisition of Meredith Corp. By Media General will land company executives and majority shareholders a cushy payday, while leaving minority shareholders in the dust, according to a lawsuit filed in federal district court. The lawsuit claims Meredith’s executives, board members and majority shareholders conspired and had conflicts of interest when orchestrating the company’s acquisition.