Nexstar to acquire Tegna in 6.2 billion cash deal

Nexstar aims to expand its local news footprint by acquiring Tegna in a cash deal worth 6.2 billion, a move that could reshape the U.S. broadcast landscape.

Nexstar buys Tegna for 6.2 billion

Nexstar Media Group has agreed to buy Tegna in a cash deal valued at 6.2 billion dollars, paying 22 dollars per Tegna share. The merger would create a larger operator of local TV stations, expanding Nexstar’s footprint to include Tegna’s 64 stations across 51 markets and reinforcing its reach in Denver and beyond. The deal will require approval from Tegna shareholders and is expected to close in the second half of 2026, pending regulatory clearance. Regulators will scrutinize the merger as part of a broader push to reassess broadcast rules, with the FCC signaling a deregulation agenda that could ease barriers to consolidation. The market reaction was positive, with Nexstar and Tegna shares rising in premarket trading following the announcement. Beyond traditional TV, both companies emphasize digital and streaming components to adapt to changing viewing habits amid cord-cutting.

The proposal arrives at a moment when U.S. broadcast groups are consolidating to gain scale in a changing ad market. A larger, integrated operation could offer advertisers a broader mix of local and national options, but it also intensifies concerns about media concentration in local news. The regulatory backdrop matters: a March move toward deregulation and a court decision that could loosen ownership limits may accelerate mergers, even as lawmakers and watchdogs warn about the implications for diversity of voice and local accountability. The deal signals a kuickening trend toward bigger players controlling more of the local news ecosystem, potentially squeezing independent outlets and altering competition among platforms.

Highlights

The outcome will hinge on regulatory review and how much consumers notice changes in their local news options.