On August 18, 2025, Sinclair Broadcast Group reportedly offered to merge its broadcast TV business with rival Tegna. This proposal emerged amidst ongoing discussions between Nexstar Media Group and Tegna regarding a potential acquisition.
Sources familiar with the matter indicated that Sinclair's deal could value Tegna's shares at approximately $25 to $30 apiece. This competing offer underscores the strategic value of Tegna's assets in the consolidating broadcasting industry.
However, a potential merger between Sinclair and Tegna would face challenges due to their combined debt load, which stood at roughly $4.11 billion for Sinclair and $2.33 billion for Tegna at the end of the second quarter. The proposal highlights the intense M&A activity in the sector.
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