October 30, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Media General Inc (NYSE:MEG), was announced concerning whether the takeover of Media General Inc, formerly Mercury New Holdco, Inc, by Nexstar Broadcasting Group, Inc for $14.50 per share is unfair to NYSE:MEG stockholders.

The investigation by a law firm concerns whether certain officers and directors of Media General Inc breached their fiduciary duties owed to NYSE:MEG investors in connection with the proposed acquisition.

On September 28, 2015 Media General Inc (NYSE:MEG) confirmed that it has received an unsolicited proposal from Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) to acquire all of the outstanding common stock of Media General for $14.50 per share in cash and stock, including $10.50 per share in cash and a fixed ratio of 0.0898 Nexstar shares per Media General share.

However, given that at least one analyst has set the high target price for NYSE:MEG shares at $20.00 per share, the investigation concerns whether the offer is unfair to NYSE:MEG stockholders. More specifically, the investigation concerns whether the Media General Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Media General Inc reported that its annual Total Revenue rose from $269.91 million in 2013 to $674.96 million in 2014 and that its respective Net Income increased from $6.14 million to $53.51 million.

Shares of Media General Inc (NYSE:MEG) trade in late 2014 as high as $18 per share.