Nexstar Media Group has agreed to acquire TEGNA, the parent company of Indianapolis-based television news stations WTHR (NBC 13) and WXIN (FOX 59), in a cash transaction valued at $22 per share. The total value of the purchase is approximately $6.2 billion.
The deal, unanimously approved by TEGNA’s Board of Directors, will bring three Indianapolis-based news organizations under one company. Nexstar already operates over 200 news stations across the United States and will expand its presence in key markets such as Atlanta, Phoenix, Seattle, and Minneapolis.
The acquisition is expected to enhance Nexstar’s local presence and enable it to continue providing core local news and programming. TEGNA’s CEO Mike Steib stated that the company is “thrilled” to have found a partner that will allow it to maintain its focus on creating impactful local content and delivering digital products to communities nationwide.
The acquisition has been welcomed by Indianapolis-based news organizations, which will now be owned and operated by one company. However, details about how this acquisition will affect daily operations and staffing are still unclear.
Source: https://eu.indystar.com/story/news/local/2025/08/19/tegna-nexstar-merger-indianapolis-fox59-cbs4-wthr13/85722603007