Lot of insider selling in the past week. May be due to the the fight Media General started with the FCC regarding a JSA in Augusta, GA.. You never pick a fight with the Govt., they have unlimited resources. Could affect the acquisition by NXST or delay it.
A lot of things can happen between now and November. Worst case is a recession, a $25 billion opposed to a $60 billion FCC auction or political money goes to Google and Facebook rather than broadcast. But if things come together in a good way, Nexstar will be $65 - $75 making MEG convert to a value of $19.24 + CVR. Total for best scenario is $23. I'm waiting and hoping for the convergence and best year in broadcast in the last 10.