Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Media General buys Iowa-based Meredith for $2.4 billion

 


Media General is buying Meredith Corp. in an approximately $2.4 billion cash-and-stock deal.

The combined company, called Meredith Media General, will have 88 television stations in 54 markets and media brands including Better Homes and Gardens, Allrecipes, Parents and Shape.

Meredith shareholders will receive cash and stock valued at $51.53 per share. That's a 12 percent premium to the company's Friday closing price of $45.94. Media General stockholders will own about 65 percent of the combined company, while Meredith shareholders will own approximately 35 percent.

http://www.startribune.com/media-general-buying-meredith-in-2-4b-deal/325632431/

 

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