Shares of Nexstar Broadcasting Group, Inc. NXST were higher by nearly 1 percent Wednesday morning at $56.57 after the New York Post reported that the company is close to acquiring rival Media General Inc MEG.
The New York Post noted that Nexstar is prepared to offer more than $2 billion to acquire Media General.
Media General rejected Nexstar's $16.31 per share offer in early December and asked for more than $18 per share.
"The gap has closed and they are getting closer," two sources close to the situation told the New York Post on Tuesday.
Shares of Media General were trading higher by 1.61 percent at $15.75 shortly after Wednesday's opening bell.
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