On August 19, 2025, Nexstar Media Group, Inc. and TEGNA Inc. announced they entered into a definitive agreement for Nexstar to acquire all outstanding shares of TEGNA. The all-cash transaction is valued at $6.2 billion, inclusive of TEGNA’s net debt and estimated transaction fees and expenses.
The purchase price of $22.00 per share represents a 31% premium to TEGNA’s average 30-day average stock price ending August 8, 2025, the last closing stock price prior to media reports of a potential transaction. This acquisition is expected to enhance Nexstar’s position as a leading local media company.
Following completion, the combined entity aims to better serve communities by ensuring the long-term vitality of local news and programming. Nexstar CEO Perry A. Sook stated that the transaction will increase Nexstar’s reach in important markets and enhance its local presence, enabling it to compete more effectively with larger tech and media companies.
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