United States, August 20, 2025
News Summary
Nexstar Media Group has announced its plan to acquire Tegna Inc. for $3.54 billion. The deal aims to boost Nexstar’s coverage to 80% of U.S. television households, while consolidating 64 Tegna-operated stations within its portfolio. The agreement includes a cash transaction of $22 per share, approved by Tegna’s Board, and is expected to finalize in the second half of 2026 after regulatory approval.
Nexstar Agrees to Acquire Tegna in Major Media Consolidation Move
On August 19, 2023, Nexstar Media Group announced its plan to acquire Tegna Inc. for $3.54 billion in an important move within the media industry. The acquisition is anticipated to significantly increase Nexstar’s reach, potentially allowing it to cover 80% of U.S. television households.
Tegna currently operates 64 television stations across the United States, while Nexstar owns or partners with over 200 stations. The merger represents a strategic initiative by Nexstar to expand its footprint in major markets and enhance local broadcasting capabilities.
The acquisition agreement includes a cash transaction valued at $22 per share, representing a 31% premium to Tegna’s 30-day average stock price as of August 8, 2023. The deal has already received approval from Tegna’s Board of Directors and is expected to close in the second half of 2026, pending regulatory approval.
Expansion in Key Markets
This merger is likely to improve Nexstar’s representation in crucial Californian cities, including Sacramento and San Diego. Currently, Tegna operates two stations in California, compared to Nexstar’s six. If the acquisition is finalized, Nexstar would become the top owner of local TV stations in the country.
The projected ranking of leading local TV station owners following the merger would be:
- Nexstar Media Group
- Sinclair Broadcast Group
- Gray Television
- E.W. Scripps Company
- Hearst Television
Response to Digital Competition
The acquisition is viewed as a strategic response from traditional broadcasters facing intensified competition from digital platforms. Nexstar has been advocating for changes in Federal Communications Commission (FCC) ownership rules to enable enhanced station acquisitions and alleviate regulatory restrictions.
The merger will also allow Nexstar and Tegna to combine their strengths in recently acquired sports rights, thereby improving their ability to deliver local content. Tegna has previously explored merger options with private equity partners Standard General and Apollo Global Management, but those efforts were hampered by regulatory issues.
Market Reactions
Following the announcement of the acquisition, both Nexstar’s and Tegna’s stock prices witnessed an increase. However, some public interest groups have raised concerns about the potential adverse effects of media consolidation on local news coverage and competition.
As major U.S. broadcast networks, including ABC, CBS, NBC, and FOX, own approximately 52 local TV stations, they have significant control over editorial content and staffing. This acquisition underscores a trend in the media industry toward consolidation in order to remain competitive in an evolving landscape.
Conclusion
The forthcoming merger between Nexstar and Tegna signifies a considerable shift in the media landscape, highlighting both opportunities for expansion and concerns regarding the implications of reduced competition in local news coverage.
FAQ Section
What is the total value of the Nexstar-Tegna acquisition?
The total value of the acquisition is $3.54 billion.
How many stations does Tegna operate?
Tegna currently operates 64 television stations across the United States.
What will be the estimated reach of Nexstar after the acquisition?
The acquisition is expected to allow Nexstar to cover 80% of U.S. television households.
When is the merger expected to close?
The merger is anticipated to be finalized in the second half of 2026, pending regulatory approval.
What concerns have been raised about this media consolidation?
Public interest groups express worries that consolidation may lead to reduced competition and negatively impact local news coverage.
Key Features of the Nexstar-Tegna Acquisition
| Feature | Details |
|---|---|
| Total Value | $3.54 billion |
| Tegna’s Stations | 64 stations across the U.S. |
| Nexstar’s Reach | 80% of U.S. TV households |
| Deal Closure | Expected in second half of 2026 |
| Regulatory Approval | Pending |
| Market Concerns | Reduced competition, local news coverage impact |
Deeper Dive: News & Info About This Topic
- VC Star: Nexstar-Tegna Merger Overview
- Los Angeles Times: Nexstar Agrees to Acquire Tegna
- Sportico: Local Sports Rights and the Nexstar-Tegna Merger
- SJVSun: Nexstar to Acquire Tegna
- Google Search: Nexstar Tegna Merger
Author: STAFF HERE LOS ANGELES WRITER
LOS ANGELES STAFF WRITER The LOS ANGELES STAFF WRITER represents the experienced team at HERELosAngeles.com, your go-to source for actionable local news and information in Los Angeles, Los Angeles 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 the LA Auto Show, Hollywood Film Awards, and the Los Angeles Marathon. Our coverage extends to key organizations like the Los Angeles Area Chamber of Commerce and the Los Angeles Tourism & Convention Board, plus leading businesses in entertainment and technology that power the local economy such as Warner Bros. and SpaceX. As part of the broader HERE network, including HEREAnaheim.com, HERECostaMesa.com, HEREHuntingtonBeach.com, and HERESantaAna.com, we provide comprehensive, credible insights into Southern California's dynamic landscape.
