Texas, August 20, 2025
News Summary
Nexstar Media Group announced its plan to acquire Tegna for $3.54 billion, enabling it to expand its reach to potentially 80% of U.S. television households. The acquisition, which involves a cash deal worth $22 per share, has received approval from Tegna’s Board of Directors. This merger positions Nexstar as the leading owner of local television stations, surpassing major competitors. While this consolidation is seen as a strategic move to counter digital competition, concerns have been raised about its impact on local news quality.
Texas – Nexstar Media Group has announced its intention to acquire Tegna, a smaller rival, in a significant consolidation move valued at $3.54 billion. This acquisition, announced on August 19, will enhance Nexstar’s reach, potentially allowing it to cover up to 80% of television households across the United States.
The acquisition involves a cash transaction where Tegna’s outstanding shares will be purchased at $22 per share, representing a 31% premium to Tegna’s average stock price over the previous 30 days leading up to August 8. The deal has received approval from Tegna’s Board of Directors.
Currently, Tegna operates 64 television stations and networks throughout the U.S., whereas Nexstar boasts ownership or partnerships in over 200 stations, including affiliations with popular networks such as CW and NewNation. The merger is expected to enhance Nexstar’s footprint, particularly in California, where it operates six stations, expanding its presence in major cities such as Sacramento and San Diego. Though Tegna has a smaller presence in California with only two stations, this acquisition will bolster its status in the state.
If finalized, this merger will position Nexstar as the top owner of local television stations in the U.S., surpassing major competitors including Sinclair Broadcast Group, Gray Television, E.W. Scripps Company, and Hearst Television. This consolidation is viewed as a strategic response to increasing competition from digital media, enabling broadcasters to better compete and operate under enhanced regulatory conditions regarding ownership limits.
The two companies are expected to bolster their operations together, particularly in acquiring sports broadcasting rights, contributing to richer local content offerings. Tegna’s previous attempt to merge with private equity firms Standard General and Apollo Global Management fell apart due to regulatory hurdles, making this acquisition a significant turnaround.
Nexstar has been advocating for changes to the Federal Communications Commission (FCC) ownership rules, aiming to ease regulations that limit broadcasters’ ability to acquire more stations. This acquisition, pending regulatory approval, is projected to close in the second half of 2026. Following the announcement, stock prices for both Nexstar and Tegna saw an increase.
However, the merger has prompted concerns among public interest groups, who caution that such consolidation could diminish competition and negatively impact the quality of local news coverage. Critics argue that further consolidation could lead to homogenized content and a reduction in diverse viewpoints within local markets.
Ranking of Top Local TV Station Owners (Post-Merger)
- Nexstar Media Group
- Sinclair Broadcast Group
- Gray Television
- E.W. Scripps Company
- Hearst Television
Context and Implications
This merger indicates a significant shift in the broadcasting landscape in the U.S. The combination of Nexstar and Tegna’s resources and stations is anticipated to strengthen their position against both traditional and digital competition. As the companies move forward with this agreement, regulatory approval will play a crucial role in determining the future structure of local broadcast ownership.
Frequently Asked Questions
What is Nexstar planning to acquire?
Nexstar Media Group plans to acquire Tegna for $3.54 billion.
How much will Tegna’s shares be sold for?
The outstanding shares of Tegna will be sold at $22 per share.
What will be the impact on Nexstar’s reach?
This acquisition may allow Nexstar to cover up to 80% of television households in the U.S.
When is the deal expected to be finalized?
The merger is expected to close in the second half of 2026, pending regulatory approval.
What are some potential concerns regarding the merger?
Public interest groups have raised concerns that the consolidation could lead to reduced competition and negatively impact local news coverage.
Key Features of the Acquisition
| Feature | Nexstar | Tegna |
|---|---|---|
| Number of Stations | 200+ | 64 |
| Acquisition Value | $3.54 billion | |
| Price per Share | $22 | |
| Projected Market Reach | 80% of U.S. households | |
| California Stations | 6 | 2 |
| Projected Closing Date | 2026 (2nd half) |
Deeper Dive: News & Info About This Topic
- VC Star: Nexstar-Tegna Merger
- Los Angeles Times: Nexstar Acquires Tegna
- SJVSun: Nexstar to Acquire Tegna
- KEYT: Nexstar to Buy Tegna
- Wikipedia: Nexstar Media Group
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MISSION VIEJO STAFF WRITER The MISSION VIEJO STAFF WRITER represents the experienced team at HEREMissionViejo.com, your go-to source for actionable local news and information in Mission Viejo, Orange 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 Oso Fit 5K Fun Run and Community Health Fair, Walk Against Drugs & Community Fair, and National Night Out. Our coverage extends to key organizations like the Mission Viejo Chamber of Commerce and Providence Mission Hospital Mission Viejo, plus leading businesses in retail and education that power the local economy such as The Shops at Mission Viejo, Capistrano Unified School District, and Amazon Delivery Station. As part of the broader HERE network, including HEREAnaheim.com, HEREBeverlyHills.com, HERECostaMesa.com, HERECoronado.com, HEREHollywood.com, HEREHuntingtonBeach.com, HERELongBeach.com, HERELosAngeles.com, HERESanDiego.com, and HERESantaAna.com, we provide comprehensive, credible insights into California's dynamic landscape.
