Since this announcement, shares of Media General Inc (NYSE:MEG) have appreciated by over 10%. Earlier this month, the U.S. Department of Justice (DoJ) approved this merger on the condition that Nexstar must divest seven stations (in six markets) to upfront buyers that the department has approved. Though the Federal Communications Commission(FCC)'s approval concerning this merger is still pending, most analysts believe that the FCC is most likely to approve the merger now that the DoJ has settled its antitrust concerns with the broadcasters. At the end of second quarter, there were 34 hedge funds covered in our database that were long Media General Inc (NYSE:MEG) with the aggregate value of their holdings in it amounting to $634.63 million.