NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Media General (“Company”) (NYSE:MEG) for potential breaches of fiduciary duties in connection with the sale of the Company to Nexstar Broadcasting for approximately $4.1 billion in a cash and stock transaction.
The Company’s stockholders will only receive $10.50 in cash and 0.0898 Nexstar Broadcasting shares, or approximately $14.62, for each share of Company common stock they own.
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The investigation focuses on whether Company’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Company’s shareholders.
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If you own common stock in Company and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/MEG or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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