Media General Buys Meredith Corp for $2.4 Billion
Two more media giants combine forces. This time – Media General and Meredith Corp. Last week Media General announced it will buy Meredith Corp. in a cash and stock transaction worth an estimated $2.4 billion, reports Bloomberg Business. In a statement about the merger, Meredith CEO Steve Lacey, who will lead the newly-formed Meredith Media General, said the combined companies will generate $3 billion in revenue in the first year. The reason for the merger is…
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