Nexstar Media Group has agreed to purchase broadcast rival Tegna for $6.2 billion, strengthening its local news offerings and expanding its reach in the US television market. The deal will bring together two major players in US television and local news landscape.
Nexstar, which owns over 200 stations across 116 markets, including Denver’s Fox31, will gain control of Tegna’s 64 news stations across 51 markets. The acquisition is expected to give advertisers more variety in local and national broadcast and digital advertising options.
The deal follows a trend of consolidation in the US broadcast industry, with Nexstar having grown substantially through acquisitions over the past two decades. The purchase also arrives amid wider regulatory shifts, including the FCC’s decision to repeal 98 broadcast rules and requirements.
The Federal Communications Commission (FCC) is expected to approve the transaction, which could clear the way for future mergers in the industry. The deal is expected to close by the second half of 2026, pending Tegna shareholder approval.
Shares of Nexstar jumped 7.6% in premarket trading, while Tegna’s rose 4.3%, following the announcement of the deal.
Source: https://www.denverpost.com/2025/08/19/nexstar-buying-tegna