However , the offer was countered by Nexstar Broadcasting Group , who made a successful , $4.6 billion bid to acquire Media General instead .
Media General shareholders would have controlled 65 % of the company , with Meredith shareholders holding 35 % .
The offer was countered by Nexstar Broadcasting Group , who made a successful , $4.6 billion bid to acquire Media General instead .
Media General shareholders would have controlled 65 % of the company , with Meredith shareholders holding 35 % .