News Summary
Nexstar Media Group has announced the acquisition of Tegna Inc. for $6.2 billion in an all-cash deal, effectively reshaping the local broadcasting landscape. This merger, set to finalize in the latter half of 2026, will create the largest local broadcasting company in the U.S., extending Nexstar’s reach to nearly 80% of households. With 265 stations across 44 states, the integration will bolster Nexstar’s market presence, particularly in major markets. Industry analysts caution about potential regulatory hurdles that could impact the future of local broadcasting and diversity in content.
Washington, D.C. — Nexstar Media Group has announced its acquisition of Tegna Inc. for $6.2 billion in an all-cash transaction, which includes refinancing Tegna’s outstanding debt. The deal, which signifies a major shift in the local broadcasting landscape, will be finalized in the second half of 2026, subject to regulatory scrutiny and shareholder approvals. This merger is set to create the largest local broadcasting company in the United States, allowing Nexstar to extend its reach to nearly 80% of U.S. households.
The acquisition will involve the integration of both companies’ television stations, which will total 265 across 44 states and Washington, D.C. Nexstar currently operates 201 stations and is already well-established in most major markets. The addition of Tegna’s 64 news stations in 51 markets, including affiliates in Jacksonville, will significantly enhance Nexstar’s operational presence, especially since both companies operate in nine of the top ten U.S. television markets and 82 of the top 100.
The purchase price of $22.00 per share for Tegna represents a 31% premium over the company’s 30-day average stock price, demonstrating Nexstar’s strong commitment to this acquisition. Financing for the merger is being facilitated by major banks such as Bank of America, JP Morgan, and Goldman Sachs.
The merger is part of a strategic initiative among local broadcasters to enhance competitive capabilities against larger national media and technology firms. Nexstar’s CEO emphasized the merger’s potential to improve both companies’ market positions, while Tegna’s leadership viewed Nexstar as an ideal partner for advancing local content production.
With a combined revenue of $8.1 billion from the last fiscal year and an adjusted EBITDA of $2.58 billion, this merger is poised to have significant economic implications. However, industry analysts point out that the deal could face regulatory challenges due to concerns over market concentration. There are apprehensions that further media consolidation may lead to homogenized content, potentially stifling diversity in local broadcasting.
This acquisition follows Tegna’s previous attempt to enter a buyout agreement with hedge fund Standard General L.P., which was terminated in 2023 amid regulatory challenges. Analysts have also noted concerns regarding Apollo Global Management’s prior connection to Jacksonville’s television market, an issue considered relevant in the context of this new merger.
Past acquisitions by Nexstar, including the CW network affiliate WCWJ TV-17 in Jacksonville in 2009, indicate a sustained interest in expanding their network in strategic markets. Meanwhile, the FCC has shown a trend toward deregulating broadcast media, which could facilitate a smoother approval process for the merger.
Industry experts caution that local broadcasting requires careful attention, especially as viewership habits shift dramatically due to the rise of digital media consumption. Changes in consumer behavior have led to companies like Tapestry Inc. experiencing declines in market performance. The evolving regulatory landscape under the current administration will play a crucial role in determining the merger’s approval.
Ultimately, Nexstar and Tegna have committed to enhancing investment in local journalism, community programming, and digital innovation. The anticipated merger could reshape the future of local broadcasting as both companies navigate the challenges and opportunities presented by an increasingly competitive media environment.
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- Jax Daily Record
- Wikipedia: Nexstar Media Group
- KETK
- Google Search: Nexstar Media Group
- First Coast News
- Encyclopedia Britannica: Media
- Buffalo News
- Google News: Nexstar Tegna merger
- Click Orlando
- Google Scholar: Local Broadcasting Trends
- Binghamton Homepage
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Author: STAFF HERE JACKSONVILLE WRITER
The JACKSONVILLE STAFF WRITER represents the experienced team at HEREJacksonville.com, your go-to source for actionable local news and information in Jacksonville, Duval County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Jacksonville Jazz Festival, Riverside Arts Market, and World of Nations Celebration. Our coverage extends to key organizations like the Jacksonville Chamber of Commerce and JAXUSA Partnership, plus leading businesses in logistics, healthcare, and entertainment that power the local economy such as CSX Corporation, Baptist Health, and VyStar Credit Union. As part of the broader HERE network, including HEREOrlando.com, HEREStPetersburg.com, HERETallahassee.com, and HERETampa.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
