What Smart Money Thinks about Media General as Nexstar Broadcasting Steps Up with a Bid?

The unpopularity of Media General Inc (NYSE:MEG) and Meredith deal was grounded in the publishing business that Meredith owns. In an era when many media companies are separating their publishing segments, it doesn’t make a lot of sense for Media General to load such a declining business on its back, even though according to Meredith they drive viewership for the company’s 17 local TV stations.

On the other hand, among over 700 hedge funds that we track at Insider Monkey, a total of 27 had investments in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) at the end of June, down from 33 at March-end. The aggregate value of their holdings stood at $713.86 million and represented 40.8% of Nexstar. Marc Lisker, Glenn Fuhrman and John Phelan‘s MSDC Management is the largest stockholder of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) within our database holding 3.06 million shares valued at $171.18 million.

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