Tegna, Nexstar Media Group
Digest more
Nexstar Media Group, the owner of ABC27, plans to purchase Tegna, the owner of FOX43. Nexstar announced on Tuesday that it plans to acquire all outstanding shares of Tegna for $22 per share in a cash transaction valued at $6.2 billion.
Today we’re going to be looking at the largest such local TV station owner/operator in the United States, Nexstar Media Group ( NASDAQ: NXST ). They’re looking to get even bigger through an announced acquisition of Tegna ( TGNA ), a substantial competitor.
If the deal for Nexstar Media Group to buy rival Tegna goes through, one owner will control three of the Memphis market’s five primary news stations.
Nexstar’s takeover of Tegna, enabled by Trump-era deregulation, positions the company to reach 80% of U.S. households
Nexstar says its $6.2 billion takeover of Tegna is expected to close in the second half of 2026 — timing that would align with the lucrative wave of political ads during the midterm elections. But that plan still depends on Tegna shareholders, who may yet consider Sinclair’s competing offer.