On January 27, Meredith formally broke off the proposed merger with Media General and accepted the termination fee of $60 million previously negotiated under the original merger proposal; Media General subsequently signed an agreement to be acquired by Nexstar, in exchange for giving Meredith right of first refusal to acquire any broadcast or digital properties that may be divested (a clause that Meredith did not exercise). The transaction was approved by the FCC on January 11, 2017; the sale was completed on January 17, at which point the existing Nexstar stations and the former Media General outlets that neither group had to sell in order to rectify ownership conflicts in certain markets became part of the renamed Nexstar Media Group; this brought WAVY-TV and WVBT under common ownership with the Roanoke duopoly of Fox affiliate WFXR and CW affiliate WWCW (which necessitated Media General to sell its NBC-affiliated station in that market, WSLS-TV, to Graham Media Group in order to alleviate said ownership conflict with the two existing Nexstar-owned stations).