Breaking News
Together, they will expand news coverage to serve more communities, across more screens, and ultimately secure the future of local news for generations to come.
The US broadcasting industry, Nexstar Media Group, has announced its plan to acquire TEGNA Inc. for $6.2 billion, including debt and transaction costs. This acquisition is subject to regulatory approval and marks one of the largest media consolidation deals in recent years.
The agreement will see Nexstar take control of TEGNA’s 64 television stations across 51 markets in the United States, expanding its reach to over 100 million viewers each month through television, mobile apps, digital platforms, and connected TVs. The acquisition represents a 31% premium to TEGNA’s stock price as of August 8, 2025, underscoring Nexstar’s commitment to growth and dominance in the local broadcasting sector.
Perry A. Sook, Chairman and CEO of Nexstar, emphasized that the merger strengthens Nexstar’s ability to compete with Big Tech companies and legacy media giants. He highlighted that the combined entity will provide enhanced local news coverage, innovative digital media solutions, and new opportunities for advertisers in major Designated Market Areas (DMAs) such as Atlanta, Phoenix, Seattle, and Minneapolis.
TEGNA’s leadership, including Chairman Howard Elias and CEO Mike Steib, expressed strong support for the acquisition, calling it a “transformational deal” that ensures the future of fact-based journalism and community-driven programming. They also highlighted Nexstar’s proven track record with previous acquisitions, such as the 2019 purchase of Tribune Media.
With this acquisition, Nexstar aims to deliver synergy benefits, strengthen its financial position, and create long-term shareholder value. For the broadcasting industry, the deal signals a new era of media mergers and acquisitions, where traditional broadcasters are consolidating to counter the growing dominance of digital-first companies.
If approved, the merger will cement Nexstar’s position as the largest local media company in the US, solidifying its role as a key player in delivering trusted local news, entertainment, and digital content across multiple platforms.
The agreement will see Nexstar take control of TEGNA’s 64 television stations across 51 markets in the United States, expanding its reach to over 100 million viewers each month through television, mobile apps, digital platforms, and connected TVs. The acquisition represents a 31% premium to TEGNA’s stock price as of August 8, 2025, underscoring Nexstar’s commitment to growth and dominance in the local broadcasting sector.
Perry A. Sook, Chairman and CEO of Nexstar, emphasized that the merger strengthens Nexstar’s ability to compete with Big Tech companies and legacy media giants. He highlighted that the combined entity will provide enhanced local news coverage, innovative digital media solutions, and new opportunities for advertisers in major Designated Market Areas (DMAs) such as Atlanta, Phoenix, Seattle, and Minneapolis.
TEGNA’s leadership, including Chairman Howard Elias and CEO Mike Steib, expressed strong support for the acquisition, calling it a “transformational deal” that ensures the future of fact-based journalism and community-driven programming. They also highlighted Nexstar’s proven track record with previous acquisitions, such as the 2019 purchase of Tribune Media.
With this acquisition, Nexstar aims to deliver synergy benefits, strengthen its financial position, and create long-term shareholder value. For the broadcasting industry, the deal signals a new era of media mergers and acquisitions, where traditional broadcasters are consolidating to counter the growing dominance of digital-first companies.
If approved, the merger will cement Nexstar’s position as the largest local media company in the US, solidifying its role as a key player in delivering trusted local news, entertainment, and digital content across multiple platforms.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.
