November 16, 2015 / 1:21 PM / 2 years ago

Media General rejects Nexstar's takeover offer

Nov 16 (Reuters) - Media General rejected a Nexstar Broadcasting Group Inc’s $4.1 billion takeover offer, saying it “significantly undervalues” the company.

The company, however, said it would engage in discussions with Nexstar about a possible deal.

Nexstar offered to buy Media General in a $4.1 billion deal in September. Media General is in the process of buying Meredith Corp. (Reporting by Devika Krishna Kumar in Bengaluru; Editing by Saumyadeb Chakrabarty)

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