Nexstar to acquire Tegna in Deal of $ 6.2 billion
In a deal to combine two major players in the local TV station BIZ, Nexstar Media Group said it reached an agreement to buy Tegna in a transaction with a value of $ 6.2 billion
The purchase price includes the net debt of Tegna and estimated transaction costs and costs. The deal, subject to approval of the regulations, including the FCC, is expected to close against the second half of 2026.
Nexstar has just over 200 ownership or partner stations and Tegna has 64 stations in the US at the closing of the Tegna deal, Nexstar and its partners have 265 full television stations in 44 states and Washington, DC, who cover 132 of the 210 television markets of the country, said the companies of the American TV. The combined company will have stations in nine of the top 10 markets, and in 41 of the Top 50.
The new company “will be better able to serve communities by guaranteeing the long -term vitality of local news and programming from familiar local sources and retaining the diversity of local voice and opinion,” said Nexstar and Tegna in the announcement of the pact.
The FCC, under Trump-appointed chairman Brendan Carr, launched an initiative in June to ask public commentary whether he should “adjust or eliminate the 39% national public of 39%” at local TV ownership. And in July the 8th US Circuit Court of Appeals left the rule of the FCC with a station group to possess more than one of the top four TV stations in a certain market.
Nexstar chairman and CEO Perry Sook called the White House moving to deregulate the local TV sector as the management of the deal.
“The initiatives that are pursued by the Trump administration offer local broadcasters the opportunity to expand the reach, bring the playing field to the level and to compete more effectively with the large tech and Legacy large media companies that have the reach and enormous financial resources,” Sook said in a statement. “We believe that Tegna is the best option for Nexstar to act this opportunity.”
Nexstar’s earlier deals include his $ 4.1 billion acquisition from stands in 2019 and the acquisition of a majority interest in the CW in 2022.
Tegna Chair Howard Elias said in a statement: “In Tegna, we share the dedication of Nexstar to local broadcaster, illustrated by numerous investments and initiatives, industrial journalism prices, and the significant expansion of our local news content. This transaction is a premium of the fact of the industry and the rapitie and the point of the spot of the Stand of the Stand of the Stand of the Stand of the Stand of the Stand of the Stand of the Stip of the Stip and the Stand of the Stip of the Stip and the Stand of the Stip of the Sten Pipping Transaction of all persons is a time frame that the location of all persons is to be modernized.
Mike Steib, the CEO of Tegna, added: “We are very happy that we have found a partner in Nexstar who will enable Tegna stations to continue to do what we do best: creating excellent and impactful local content in combination with the delivery of indispensable digital products to the communities that we serve throughout the country.”
News about the Nexstar-Tegna deal comes after Sinclair, another large local TV broadcaster, announced that it investigated strategic alternatives for his TV company and possibly other assets. Last week Sinclair announced the sale of his Newson Local Broadcast Streaming Platform to a company called Zeam.
