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Strength Seen in Media General (MEG): Stock Soars 22.3%

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Media General, Inc. ( MEG ) was a big mover last session, as the company saw its shares rise more than 22% on the day. The share price appreciation came after Nexstar Broadcasting Group, Inc. ( NXST ) proposed to acquire Media General in a $4.1 billion deal. The news led to far more shares changing hands than in a normal session, breaking the recent trend of the company, as the stock is now trading above the volatile price range of $9.98 to $11.75 over the past one month time frame.

None of the estimates for this stock were revised in the past 7 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Media General carries a Zacks Rank #3 (Hold), while its Earnings ESP is positive.

Is MEG going up? Or down? Predict to see what others think: Up or Down

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MEDIA GENERAL (MEG): Free Stock Analysis Report

NEXSTAR BRDCSTG (NXST): 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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