Nexstar Closes $6.2 Billion Tegna Merger

Nexstar Media Group has closed its $6.2 billion merger with Tegna after securing federal approval, creating one of the largest broadcast television companies in the U.S. The deal, cleared by the Federal Communications Commission and the Justice Department, consolidates hundreds of local stations despite ongoing legal challenges from multiple states and industry opposition.

Perry Snook

The approval came less than a day after a coalition of eight states filed an antitrust lawsuit seeking to block the merger, arguing it would concentrate too much power in local TV markets, raise subscription prices, and reduce the quality of local news. DirecTV also filed a separate lawsuit, claiming Nexstar could use its expanded size to demand higher fees from distributors and potentially black out stations during disputes.

As part of the approval, Nexstar agreed to divest six stations in markets including Denver, Indianapolis, and New Haven within two years. The FCC also granted a waiver allowing Nexstar to exceed the federal ownership cap of 39% of U.S. TV households; the combined company will reach roughly 60%.

Nexstar CEO Perry Sook said the merger would strengthen the company’s ability to deliver local programming and journalism. FCC Chairman Brendan Carr defended the waiver, saying it aligns with the agency’s goals of promoting competition, localism, and diversity.

The combined company would own 265 full-power television stations across 44 states and the District of Columbia and in 132 of the country’s 210 television designated market areas, the FCC said. It would own two stations in each of 17 DMAs.

The decision, made by the FCC’s Media Bureau without a full commission vote, drew criticism from Democratic Commissioner Anna Gomez, who called the process lacking in transparency.

State officials, including California Attorney General Rob Bonta, say they will continue to challenge the merger in court and may seek an emergency order to halt integration while litigation proceeds. The lawsuits highlight increasing efforts by state attorneys general to challenge major media consolidations amid a more lenient federal stance.