Media General Inc. (MEG) announced a definitive merger agreement with privately held New Young Broadcasting Holding Co. Thursday morning.
Media General gapped up and spiked higher at the open Thursday and has taken out the highs of the morning in the last 20 minutes. The stock is now up 2.05 at $9.35. Media General has rise to a 2 1/2 week high and is approaching the highs of the year, around $10.25 per share.
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