Nexstar Media has agreed to acquire Tegna, Inc., the parent company of Idaho TV stations KTVB in Boise and KTFT in Twin Falls, for $3.54 billion. The deal values Tegna at approximately $22 per share.
As the nation’s largest owner of television stations, Nexstar will expand its portfolio with the addition of Tegna’s 64 stations across the country. However, the Federal Communications Commission (FCC) must approve the deal due to existing rules that restrict a single company from owning too many stations in a market.
Nexstar CEO Perry Sook expressed optimism about the proposed changes to these regulations, which he believes will allow local broadcasters to compete more effectively with big tech and media companies. The deal is expected to close by mid-2026.
Sinclair Broadcasting of Maryland has also been reported to be interested in acquiring Tegna, with some sources suggesting a potential bid of $25 to $30 per share. If Tegna decides to pursue a better offer, Nexstar will owe the company $120 million.
Source: https://boisedev.com/news/2025/08/19/ktvb-tegna-sinclair