Texas, August 20, 2025
News Summary
Nexstar Media Group has announced a significant acquisition of Tegna Inc. for $3.54 billion, enhancing its influence in the media industry. The deal, which values Tegna shares at $22 each, is expected to expand Nexstar’s coverage to 80% of U.S. TV households. Approved by Tegna’s Board, the merger will close in the second half of 2026, pending regulatory approval. This move positions Nexstar as the largest local TV station owner in the U.S., amid concerns about reduced competition in local news coverage.
Texas – Nexstar Media Group has announced an agreement to acquire Tegna Inc. for $3.54 billion, marking a significant move in the ongoing consolidation within the media industry. The deal was revealed on August 19 and is a cash transaction that values Tegna’s outstanding shares at $22 per share, representing a 31% premium to the company’s 30-day average stock price prior to the announcement.
The acquisition is slated to expand Nexstar’s already substantial footprint in the media landscape, potentially allowing the company to cover up to 80% of U.S. television households. With Tegna owning and operating 64 television stations across the country, Nexstar’s current portfolio of over 200 stations will further broaden its reach in key markets.
The merger has been approved by Tegna’s Board of Directors and is anticipated to close in the second half of 2026, pending the required regulatory approval. This merger positions Nexstar to become the largest owner of local TV stations in the U.S., overtaking Sinclair Broadcast Group, Gray Television, and others in the ranking.
Mike Steib, CEO of Tegna, highlighted the exciting potential of the partnership aimed at fostering impactful local content. The merger stands to enhance Nexstar’s representation in important markets, particularly in major California cities such as Sacramento and San Diego, where Nexstar already operates six stations compared to Tegna’s two.
This acquisition aligns with Nexstar’s strategy to adapt to increasing digital competition in the broadcasting landscape, as the company has actively advocated for loosening FCC ownership rules. The consolidation is also seen as a means to improve local broadcasting capabilities, especially as both companies have recently acquired sports broadcasting rights.
During the announcement of the acquisition, stock prices for both Nexstar and Tegna experienced an uptick, reflecting positive market reception. However, this move has drawn criticism from public interest groups, who are concerned that such consolidation risks reducing competition and negatively impacting local news coverage.
Tegna has previously attempted to merge with private equity partners Standard General and Apollo Global Management but faced regulatory issues that hindered that bid. Following the successful negotiation with Nexstar, the focus shifts to possible regulatory obstacles that could arise as the deal progresses.
Acquisition Details
- Transaction Value: $3.54 billion
- Share Price Value: $22 per share
- Expected Household Coverage: Up to 80% of U.S. television households
- Major Markets Enhanced: California, including Sacramento and San Diego
- Projected Ranking Post-Merger: 1. Nexstar, 2. Sinclair Broadcast Group, 3. Gray Television, 4. E.W. Scripps Company, 5. Hearst Television
Background Context
This acquisition represents a continuation of a trend where media companies seek to consolidate to compete more effectively in a landscape increasingly dominated by digital media. With major broadcast networks like ABC, CBS, NBC, and FOX also owning 52 local TV stations, the combined Nexstar-Tegna entity will have significant influence over editorial content, staffing, and branding in the local markets they serve.
Frequently Asked Questions
What is the value of the Nexstar-Tegna acquisition?
The acquisition is valued at $3.54 billion, with Tegna’s outstanding shares priced at $22 each.
When is the expected closing date for the merger?
The merger is anticipated to close in the second half of 2026, pending regulatory approval.
How will this merger impact local broadcasting?
The merger aims to enhance local broadcasting capabilities and expand coverage, particularly in strategically important markets.
What concerns have been raised about the acquisition?
Public interest groups have raised concerns that media consolidation could reduce competition and negatively affect local news coverage.
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Author: STAFF HERE SAN DIEGO WRITER
SAN DIEGO STAFF WRITER The SAN DIEGO STAFF WRITER represents the experienced team at HERESanDiego.com, your go-to source for actionable local news and information in San Diego, San Diego County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Comic-Con International, San Diego County Fair, and San Diego Pride Festival. Our coverage extends to key organizations like the San Diego Regional Chamber of Commerce and United Way of San Diego County, plus leading businesses in biotechnology, healthcare, and technology that power the local economy such as Qualcomm, Illumina, and Scripps Health. As part of the broader HERE network, including HEREAnaheim.com, HEREBeverlyHills.com, HERECostaMesa.com, HERECoronado.com, HEREHollywood.com, HEREHuntingtonBeach.com, HERELongBeach.com, HERELosAngeles.com, HEREMissionViejo.com, and HERESantaAna.com, we provide comprehensive, credible insights into California's dynamic landscape.
