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Fly News Breaks for January 28, 2016
MEG, MDP
Jan 28, 2016 | 07:25 EDT
After Meredith (MDP) and Media General (MEG) terminated their merger, Wells Fargo expects Meredith's stock to be range bound for a few quarters, since it believes that no M&A deals in the broadcast sector will take place until the spectrum auction is over 6-9 months from now. Wells says that Meredith's magazines business continues to weaken its results, and it keeps a Market Perform rating on the shares.
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