Nexstar secures Tegna acquisition for $6.2 billion

In August 2025, Nexstar Media Group announced its plans to acquire Tegna, a competitor in the local television market, for $6.2 billion. This acquisition is expected to further consolidate the local television industry, which has been undergoing significant changes due to shifts in viewer habits and regulatory considerations. The deal includes a cash payment of $22 per share for Tegna's outstanding stock. Following the integration of Tegna, Nexstar will control more than 265 television stations across the United States, representing approximately 80% of U.S. TV households. The rationale behind this acquisition centers on Nexstar’s desire to enhance its local news offerings and expand its advertising platform. With an increased number of television stations under its control, Nexstar aims to provide a broader array of competitive local and national broadcast and digital advertising solutions. The company’s executives have expressed confidence that recent deregulation measures pushed by the Trump administration will facilitate such mergers, allowing for greater operational reach in an increasingly competitive marketplace. The deal is particularly notable as it comes on the heels of Nexstar’s successful acquisition of Tribune Media in 2019, which previously solidified its status as the nation’s largest operator of local television stations. The recent announcement could pave the way for additional consolidation in the broadcast industry, as companies seek to adapt to a landscape dominated by digital platforms and streaming services. While industry analysts predict that this acquisition will ultimately allow Nexstar to better compete against larger technology companies, it has drawn criticism from public interest advocates concerned about potential reductions in competition and local news coverage. The acquisition requires both shareholder approval from Tegna and clearance from the Federal Communications Commission (FCC). Public interest groups have voiced concerns over the merger, suggesting that increased consolidation could undermine local news diversity. Share prices for both companies surged upon the announcement, reflecting investor optimism. The deal is anticipated to close by the second half of 2026, pending regulatory assessments and approval processes.