Nexstar Media Group announced an agreement to acquire rival broadcaster Tegna in a landmark $6.2 billion deal. The transaction, once finalized, will reshape the U.S. broadcasting sector and strengthen Nexstar’s position in local news.
Currently, Nexstar oversees more than 200 owned and partner stations across 116 U.S. markets. It also operates national networks, including The CW and NewsNation. Meanwhile, Tegna runs 64 news stations across 51 markets, giving the combined company unmatched reach across the country. Therefore, the USA Nexstar Media deal represents one of the most significant mergers in local television history.
Nexstar confirmed that the acquisition will allow advertisers broader access to local and national markets. The company said it aims to offer more diverse advertising options across broadcast and digital platforms. Furthermore, the deal promises stronger competition with Big Tech and legacy media groups.
Chairman and CEO Perry Sook explained that deregulation initiatives create fresh opportunities for broadcasters. He emphasized that Tegna provides the best platform for Nexstar to expand reach and compete more effectively. As part of the agreement, Nexstar will pay $22 in cash for each outstanding Tegna share.
Industry analysts believe the USA Nexstar Media acquisition could trigger further consolidation within broadcasting. Nexstar itself has grown rapidly over the last two decades through strategic acquisitions. It became the largest U.S. local TV operator after purchasing Tribune Media in 2019. This new deal extends that growth and further solidifies Nexstar’s dominance.
Regulatory changes have also paved the way for this acquisition. Recently, the Federal Communications Commission repealed dozens of outdated broadcast rules. Additionally, a U.S. Court of Appeals decision removed the “top four” restriction, which had limited ownership of leading stations in one market. These moves may encourage more mergers, and both Nexstar and Tegna leaders praised the shift toward deregulation.
Both companies have expanded beyond traditional television into digital news, apps, and streaming. As viewers shift toward internet-based platforms, these businesses remain essential for future growth. Therefore, the merger positions the combined company to adapt to industry changes and consumer habits more effectively.
The acquisition is expected to close in the second half of 2026, pending shareholder approval. Investors responded positively to the announcement, as Nexstar shares rose 7.6 percent in premarket trading while Tegna shares gained 4.3 percent.
Ultimately, the USA Nexstar Media purchase demonstrates the growing value of scale in broadcasting. With expanded reach, stronger digital offerings, and regulatory tailwinds, Nexstar aims to remain a leading force in U.S. media.
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