Report: Nexstar Set To Finalize Details Of Proposed Media General Acquisition

According to

,

will finalize the details of its proposed acquisition of

as soon as Thursday. Bloomberg, citing "people with knowledge of the matter," reported that Nexstar would pay around $2.2 billion, or $17.50 a share, to acquire Media General. Nexstar also plans on raising $4.5 billion to finance the acquisition and refinance its existing debt. The report added that once Nexstar and Media General come to an agreement,

will have at least four business days to match the offer, or present an increased bid.