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A third player has entered the equation, making an unsolicited bid for Media General and arguing that its acquisition of Meredith is “ill-conceived”. Traders on the street believe the stock could head to levels of $14.50 in the near term which is a positive.

Nexstar’s offer includes $10.50 per share in cash and a fixed ratio of 0.0898 shares per Media General share.

Nexstar Broadcasting, attempting to drive a wedge between Media General and Meredith Corp., offered almost $1.9 billion to buy Media General on Monday.