New York, USA — Nexstar Media Group has announced plans to acquire broadcast rival Tegna in a landmark $6.2 billion deal, uniting two of the largest players in U.S. local television and reshaping the country’s news landscape.
If approved, Nexstar will pay $22 in cash per Tegna share, with the transaction expected to close by the second half of 2026, pending regulatory clearance and shareholder approval.
Nexstar Chairman and CEO Perry Sook framed the merger as a direct response to deregulation efforts under the Trump administration. “The initiatives being pursued by the Trump administration offer local broadcasters the opportunity to expand reach, level the playing field, and compete more effectively with Big Tech and legacy Big Media companies that have unchecked reach and vast financial resources,” Sook said, calling Tegna “the best option for Nexstar to act on this opportunity.”
Currently, Nexstar owns or partners with more than 200 stations in 116 markets and operates networks like The CW and NewsNation. Tegna, for its part, runs 64 stations across 51 markets. Combining the two companies would significantly expand Nexstar’s footprint, but analysts warn it could also lead to widespread newsroom consolidation and content duplication.
“The good news for Nexstar is that makes it run at a lower cost rate,” said Paul Hardart, director of the Entertainment, Media and Technology program at NYU Stern. “But the bad news for communities is that there will be a homogenization of content.”
Industry experts point to Nexstar’s 2019 takeover of Tribune Media as a model, which cemented its position as the nation’s largest local TV operator. Critics, however, argue that consolidation has already resulted in repetitive, cookie-cutter news across markets.
The Federal Communications Commission (FCC), now led by Trump-appointed Chairman Brendan Carr, will be central to approving the deal. Carr has pushed for repealing decades-old broadcast ownership rules, most recently eliminating 98 regulations deemed “obsolete or unnecessary.” A recent federal court ruling striking down the FCC’s “top four” rule—which barred ownership of more than one of the top four stations in a market—could further ease the way for the merger.
Analysts say the timing is strategic. Both companies have been squeezed by the rise of cord-cutting and “cord-nevers” who consume content primarily online. By consolidating resources, Nexstar hopes to compete more effectively with streaming platforms and tech giants while also offering advertisers expanded reach across local and national markets.
Despite the headwinds, media researchers stress that local TV still plays a role tech firms cannot replace. “The suggestion that tech players could do what local journalism does simply doesn’t hold up,” said Danilo Yanich, a University of Delaware professor who studies media consolidation.
If completed, the Nexstar–Tegna deal will mark one of the biggest consolidations in U.S. broadcast history, setting the stage for further shakeups in the industry.
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