We told you early this morning that the Nexstar/Media General deal would likely be announced as done and that is exactly what has happened.
The two media companies say that have entered into a definitive merger agreement whereby Nexstar will acquire all outstanding shares of Media General for $17.14 per share in cash and Nexstar stock.
It's a great deal for the shareholders, not some much for management teams at Media General stations.
As Nexstar fully gets their mitts on the Media General stations you can expect, News Directors and General Managers (along with other station management) will be quietly replaced.
While Media General was no big spender, compared to Nexstar they looked like Donald Trump (the billionaire, not the candidate).
You can bet that Nextsar will make quiet cuts at the Media General stations and this time next year, we are willing to bet that each MG station will have less staff then it has now.
So, basically what we are trying to say, get your resume in order ASAP.
Don't say we didn't warn you.