On September 8, 2015, Media General announced that it would acquire the Des Moines, Iowa-based Meredith Corporation for $2.4 billion with the intention to name the combined group Meredith Media General if the sale were finalized. However, on September 28, Irving, Texas-based Nexstar Broadcasting Group made an unsolicited cash-and-stock merger offer for Media General, originally valued at $14.50 per share. On November 16, following opposition to the merger with Meredith by minority shareholders Oppenheimer Holdings and Starboard Capital (primarily because Meredith's magazine properties were included in the deal, which would have re-entered Media General into publishing after it sold its newspapers to BH Media in 2012 to reduce debt) and the rejection of Nexstar's initial offer by company management, Media General agreed to enter into negotiations with Nexstar on a suitable counter deal, while the Meredith merger proposal remained active; the two eventually concluded negotiations on January 6, 2016, reaching a merger agreement for valued at $17.14 per share (an evaluation of $4.6 billion, plus the assumption of $2.3 billion debt).