Austin, Texas, August 20, 2025
News Summary
Nexstar Media Group has announced its acquisition of Tegna Inc. valued at $6.2 billion, expanding its influence in Texas and nationwide. The merger will increase Nexstar’s total number of television stations to 265, enabling it to reach 80% of U.S. households. A regulatory review is expected as both companies have overlapping markets. The deal will be financed through refinancing Tegna’s debt, with the transaction anticipated to close in the second half of 2026 pending necessary approvals.
Austin, Texas – Nexstar Media Group has announced a major acquisition of Tegna Inc., valued at $6.2 billion. This merger will significantly enhance Nexstar’s local broadcast presence in Texas and across the country. Upon completion, Nexstar will own four out of six broadcast stations in Austin and one of four in San Antonio, effectively consolidating its influence in those markets.
The acquisition is set to increase Nexstar’s total number of television stations to 265, allowing the company to extend its reach to 80% of U.S. television households. Currently, Tegna operates 15 stations in Texas, while Nexstar operates 12, meaning the post-merger entity will command a total of 27 stations across the state.
The deal reflects a purchase price of $22 per share for Tegna, which equates to a 31% premium over its average stock price during the 30 days leading up to August 8. As the largest owner of local television stations in the U.S., Nexstar’s acquisition strategy appears aligned with ongoing shifts in the media landscape, where local broadcasters are increasingly facing competition from tech companies.
However, the merger will require regulatory approval as Nexstar and Tegna have overlapping interests in 35 markets. Recent changes at the Federal Communications Commission (FCC) may facilitate the approval process by allowing for greater media consolidation. FCC Chairman Brendan Carr has expressed openness to revoking restrictions that previously limited media ownership, signifying a potential shift in the regulatory environment.
To finance the deal, Nexstar plans to refinance or assume Tegna’s existing debt, partnering with major financial institutions such as Bank of America Securities, J.P. Morgan Chase, and Goldman Sachs. The acquisition is expected to close in the second half of 2026, once it has received the necessary regulatory approvals and shareholder consent from Tegna.
Following the news, shares of Nexstar saw a modest increase of less than 1%, while Tegna’s shares surged by over 4%. Nexstar has a history of successful acquisitions and aims to leverage this merger to enhance local content and improve operational efficiencies while managing its debt.
Key Features of the Acquisition
| Feature | Details |
|---|---|
| Acquisition Value | $6.2 billion |
| Price per Share | $22 |
| Total Stations Post-Merger | 27 in Texas, 265 nationwide |
| Market Reach | 80% of U.S. households |
| Regulatory Consideration | 35 overlapping markets |
Timeline
| Date/Time | Event | Status/Source |
|---|---|---|
| August 8, 2023 | Acquisition Announcement | Completed |
| Q2 2024 | Regulatory Review Begins | Pending |
| Q3 2026 | Expected Closure of Transaction | Pending |
What is the total value of the Nexstar and Tegna acquisition?
The total value of the acquisition is $6.2 billion.
How many television stations will Nexstar operate post-acquisition?
Nexstar will operate a total of 265 television stations across the country.
What is the expected timeline for the merger to be finalized?
The merger is expected to close in the second half of 2026, pending regulatory and shareholder approval.
What regulatory challenges does the acquisition face?
The acquisition will face scrutiny due to overlapping interests in 35 markets.
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- Express News
- Wikipedia: Nexstar Media Group
- Mike McGuff Blog
- Google Search: Nexstar Tegna merger
- Barchart News
- Google Scholar: Nexstar Media acquisition
- MediaPost
- Encyclopedia Britannica: Nexstar
- CW39 News
- Google News: Nexstar Tegna
Author: STAFF HERE SAN ANTONIO WRITER
The SAN ANTONIO STAFF WRITER represents the experienced team at HERESanAntonio.com, your go-to source for actionable local news and information in San Antonio, Bexar County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Fiesta San Antonio, San Antonio Stock Show & Rodeo, and Dia de los Muertos. Our coverage extends to key organizations like the Greater San Antonio Chamber of Commerce and United Way of San Antonio and Bexar County, plus leading businesses in retail, insurance, and energy that power the local economy such as H-E-B, USAA, and Valero Energy. As part of the broader HERE network, including HEREAustinTX.com, HERECollegeStation.com, HEREDallas.com, and HEREHouston.com, we provide comprehensive, credible insights into Texas's dynamic landscape.
