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Nexstar Broadcasting Group (NXST) Jumps: Stock Adds 8%

Nexstar Broadcasting Group, Inc. ( NXST ) was a big mover last session with its shares rising 8% on the day. The upside came on the company's announcement of a proposal to acquire Media General, Inc. ( MEG ) for $14.50 per share of the latter. The proposed cash and stock transaction is valued at $4.1 billion. This development led to far more shares changing hands yesterday than in a normal session. The move reverses the recent downtrend of the company, as the stock has lost almost 2% since Sep 21.

This television broadcasting and digital media company has seen one positive estimate revision in the last 30 days. The Zacks Consensus Estimate has however remained unchanged over the same time frame. Yesterday's rally is encouraging though, so make sure to keep a close watch on this firm in the near future.

Nexstar Broadcasting Group currently has a Zacks Rank #2 (Buy) and its Earnings ESP is negative.

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NEXSTAR BRDCSTG (NXST): Free Stock Analysis Report

MEDIA GENERAL (MEG): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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