Media General Adds Financial, Legal Advisors to Examine Nexstar Proposal

Related: Media General in Driver's Seat to Choose Nexstar's Pure-Play Broadcasting Proposal Over Meredith's Publishing Assets

Media General announced Monday that its board of directors is reviewing and considering the unsolicited proposal it received from Nexstar last week, and it has retained Goldman, Sachs & Co. and Weil, Gotshal & Manges LLP to help the board evaluate that proposal.

The pair of firms will work alongside RBC Capital Markets and Fried, Frank, Harris, Shriver & Jacobson LLP, who continue to advise Media General in financial and legal matters.

Back on Sept. 8, Media General announced it was merging with Meredith, a proposed transaction the Media General board of directors still recommends.