Texas, August 20, 2025
News Summary
Nexstar Media Group has announced its acquisition of Tegna in a $3.54 billion cash deal. The merger will expand Nexstar’s market presence significantly, enabling it to potentially cover 80% of U.S. television households. With the addition of Tegna’s 64 stations, Nexstar will enhance its local broadcasting capabilities, particularly in key markets like California. While the acquisition received approval from Tegna’s Board of Directors, concerns have been raised about the impact on competition and local news diversity. The deal is expected to close in the second half of 2026, pending regulatory approvals.
Texas — Nexstar Media Group announced on August 19 that it will acquire Tegna, a rival media company, in a cash deal valued at $3.54 billion. The acquisition is set to significantly enhance Nexstar’s presence in local markets across the United States, potentially enabling it to cover 80% of U.S. television households.
Tegna operates 64 stations and networks nationwide, while Nexstar already owns or partners with over 200 stations. The deal marks a strategic move for Nexstar to strengthen its position in the competitive media landscape, especially in key markets such as California, where it will expand its reach in major cities like Sacramento and San Diego.
The transaction values Tegna’s outstanding shares at $22 each, representing a 31% premium based on Tegna’s average stock price over the preceding 30 days as of August 8. The acquisition has received approval from Tegna’s Board of Directors, paving the way for Nexstar to become the top owner of local TV stations in the U.S.
Following the completion of this merger, Nexstar will surpass major competitors including the Sinclair Broadcast Group and Gray Television, according to projected rankings of local TV station owners. The list will reflect Nexstar as:
- Nexstar Media Group
- Sinclair Broadcast Group
- Gray Television
- E.W. Scripps Company
- Hearst Television
The acquisition aligns with a trend of media consolidation in response to growing digital competition. Nexstar’s executives have advocated for changes in Federal Communications Commission (FCC) ownership rules to facilitate further expansion in the broadcast sector. By merging with Tegna, Nexstar will also enhance its local broadcasting capabilities, especially in sports rights.
However, the transaction is not without controversy. Public interest organizations have expressed concerns that the merger could diminish competition in the market and adversely affect local news coverage. This criticism stems from fears that fewer owning entities might lead to a homogeneity in news reporting, potentially impacting the quality and diversity of local journalism.
Despite these concerns, both Nexstar and Tegna’s stock prices experienced an increase following the acquisition announcement. The deal aims to close in the second half of 2026, pending required regulatory approvals. It follows Tegna’s earlier, unsuccessful merger attempts with private equity partners, which were thwarted due to regulatory challenges.
This acquisition represents a bold step in the ongoing transformation of the media landscape, offering both companies a path to bolster their operational efficiencies and extend their reach in a changing environment.
FAQs
What is the purpose of Nexstar’s acquisition of Tegna?
The acquisition aims to enhance Nexstar’s market presence, allowing it to cover a larger percentage of U.S. television households while responding to increasing digital competition.
How much is the acquisition valued at?
The acquisition deal is valued at $3.54 billion, with Tegna’s shares priced at $22 each.
When is the acquisition expected to be finalized?
The deal is anticipated to close in the second half of 2026, pending regulatory approval.
What concerns have been raised about the acquisition?
Public interest groups have expressed concerns that media consolidation could reduce competition and negatively impact local news coverage.
How will the merger affect local TV broadcasting?
The merger is expected to enhance Nexstar’s capabilities in local broadcasting, particularly regarding sports rights, and improve its coverage in key markets.
Key Features of the Acquisition
| Feature | Details |
|---|---|
| Acquisition Value | $3.54 billion |
| Tegna’s Stations | 64 across the U.S. |
| Nexstar’s Stations | Over 200 |
| Coverage Expansion | Potentially 80% of U.S. TV households |
| Expected Closing Date | Second half of 2026 |
| Stock Price Premium | 31% above average stock price |
Deeper Dive: News & Info About This Topic
- VC Star: Nexstar-Tegna Merger
- Los Angeles Times: Nexstar Acquires Tegna
- Sportico: Nexstar-Tegna Merger and Sports Rights
- KEYT: Nexstar Buys Tegna for $6.2 Billion
- Google Search: Nexstar Tegna Merger
Author: STAFF HERE CORONADO
The Coronado Staff Writer represents the experienced team at HERECoronado.com, your go-to source for actionable local news and information in Coronado, 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 the Coronado Island Film Festival, productions at Lamb’s Players Theatre, community workshops at John D. Spreckels Center, and iconic celebrations at Hotel del Coronado. Our coverage extends to key organizations like the Coronado Chamber of Commerce and Visit Coronado, plus leading businesses in hospitality, dining, and tourism that drive the local economy. As part of the broader HERE network, including HERESanDiego.com, HEREHuntingtonBeach.com, HERELongBeach.com, and HERELosAngeles.com, we provide comprehensive, credible insights into Southern California's dynamic landscape.
