Nexstar To Acquire 64 Tegna TV Stations

Nexstar Media Group will acquire Tegna in a $6.2 billion deal, combining two major local TV station operators. 

The price includes Tegna’s net debt, transaction fees, and expenses. Pending regulatory approval, including from the FCC, the deal is expected to close in the second half of 2026.

Nexstar operates over 200 stations, while Tegna owns 64 across the U.S. Post-acquisition, Nexstar and its partners will control 265 stations in 44 states and Washington, D.C., reaching 80% of U.S. TV households across 132 of 210 markets, including nine of the top 10 and 41 of the top 50.

The companies claim the merger will enhance local news and programming, preserving diverse local voices. 

The deal aligns with recent FCC moves under Chairman Brendan Carr, including a June initiative to review the 39% national audience reach cap and a July 8th U.S. Circuit Court decision vacating the FCC’s rule against owning multiple top-four stations in a market. Nexstar CEO Perry Sook credited the Trump administration’s deregulation efforts as a key driver of the deal.