Nexstar to buy Tegna in $6.2B deal

Nexstar eyes a bigger footprint in local TV by purchasing Tegna, a move that attracts regulatory scrutiny and public debate over local news impact.

Nexstar to buy Tegna in $6.2 billion deal consolidating local TV stations

Nexstar, the largest owner of US TV stations, announced a $6.2 billion deal to acquire Tegna, including debt. The transaction will need approval from federal regulators, and industry observers say it could test the limits of current ownership rules. The plan comes as lawmakers weigh whether to loosen caps that limit broadcasters to covering about 39 percent of US television households. FCC chair Brendan Carr has signaled support for reviewing those lines, arguing the rules are outdated in the digital era. The deal would expand Nexstar’s reach and could reshape competition in local broadcasting.

Public interest groups warn megamergers reduce competition and might shrink local coverage viewers rely on. Investors greeted the news with optimism on Tuesday, helping shares of both companies rise, and market chatter suggested more consolidation could follow. Analysts note that the ultimate fate of the deal will hinge on regulatory decisions and how a reshaped landscape would affect local news gathering and reporting.

The proposed combination comes amid a broader push by some policymakers to reexamine media ownership rules. Proponents say a larger platform can streamline operations and fund more digital investment, while critics warn that fewer owners could mean less diversity in local voices. Regulators will have to weigh the benefits of scale against the public interest in strong, independent local journalism. The debate mirrors wider tensions between consolidation, competition, and the role of broadcast media in an era dominated by powerful online platforms.

Highlights

The outcome will shape how communities see themselves on the local airwaves.