Overview

• Nexstar announced a $6.2 billion cash agreement to acquire Tegna at $22 per share, a price Tegna’s board approved as a roughly 31% premium.
• If cleared, the combined company would control about 265 stations across 44 states and Washington, D.C., reaching roughly 80% of U.S. TV households with a targeted close in the second half of 2026.
• Sinclair Broadcast Group has submitted a competing offer, leaving the outcome contingent on federal regulatory and antitrust reviews.
• Media experts warn the merger could trigger layoffs, consolidation of operations, and programming shifts in markets such as Denver, where 9News KUSA and Fox31 KDVR rank among top local newscasts.
• In California, the deal would add Tegna’s KXTV in Sacramento and KFMB in San Diego to Nexstar’s portfolio, expanding the company’s footprint in both markets.