On September 8, 2015, Media General announced that it would acquire Meredith for $2.4 billion, with the combined group to be renamed Meredith Media General once the sale was finalized by June 2016. Because Media General already owned CBS affiliate KOIN (channel 6) and Meredith owns KPTV and KPDX, the companies would have been be required to sell either KPTV or KOIN to comply with FCC ownership rules that forbid common ownership of two of the four highest-rated television stations in a given market in total day viewership, as well as recent changes to FCC ownership rules that restrict sharing agreements; KPDX was the only one of the three stations affected by the merger that could legally be acquired by Meredith Media General, as its total day viewership ranks below the top-four ratings threshold. However, on January 27, 2016, Nexstar Broadcasting Group announced that it had reached an agreement to acquire Media General, resulting in the termination of Meredith's acquisition by Media General.