Tegna, Nexstar Media Group
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Nexstar, the No. 1 owner of TV stations in the U.S., is acquiring rival Tegna in a deal that challenges decade-old limits on control of local media.
The $6.2 billion cash transaction would expand Nexstar’s station group to 265 outlets nationwide, including a bigger foothold in Texas.
Nexstar’s proposed $6.2 billion acquisition of Tegna could bring Cleveland’s WJW and WKYC under one owner, but regulatory hurdles make the deal’s local impact uncertain.