Overview

• Nexstar will pay $22 in cash per Tegna share, with the companies targeting a close in the second half of 2026 subject to shareholder and regulatory approvals.
• The combined footprint would cover 44 states and Washington, D.C., reaching about 80% of U.S. TV households and boosting Nexstar’s presence in Atlanta, Phoenix, Seattle and Minneapolis.
• The FCC recently moved to repeal 98 broadcast rules and a federal appeals court vacated the agency’s “top four” in‑market limit, changes executives cited as enabling consolidation.
• Public‑interest groups contend the merger would exceed the 39% national ownership cap and violate local limits in numerous markets, warning of reduced competition and potential newsroom layoffs.
• Investors responded positively, with Nexstar shares up roughly 7.6% and Tegna up 4.3% in premarket trading, as reports also flagged a separate merger overture from Sinclair.