Nexstar Media Group has announced a definitive agreement to acquire TEGNA Inc. for $6.2 billion, enhancing its position as a leading local media entity in the competitive U.S. market.

Target Information

Nexstar Media Group, Inc. (Nasdaq: NXST) is a prominent diversified media enterprise that specializes in producing and distributing local and national news, as well as sports and entertainment content, across both television and digital platforms. The company is set to acquire TEGNA Inc. (NYSE: TEGNA), a notable provider of local news with a portfolio of 64 television stations operating in 51 U.S. markets. The acquisition deal, valued at $6.2 billion, includes a cash price of $22.00 per share for TEGNA's outstanding shares, augmented by TEGNA's existing net debt and estimated transaction costs.

This acquisition positions Nexstar to enhance its overall strength in the media landscape. Upon completion of the transaction, projected for the second half of 2026, the combined entity will emerge as a leading local media powerhouse, equipped to effectively navigate the competitive and evolving marketplace.

Industry Overview

The media industry in the U.S. has experienced significant transformation over the past decade, driven by technological advancements and shifting consumer preferences. The rise of digital platforms has altered traditional revenue s