TV Giant Nexstar Agrees to Acquire a Rival, Tegna
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Nexstar Media will acquire rival broadcast company Tegna for $6.2 billion according to a joint announcement on Tuesday, another sign of consolidation in an already contracting TV broadcast sector.
Nexstar’s takeover of Tegna, enabled by Trump-era deregulation, positions the company to reach 80% of U.S. households
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Nexstar CEO praises Trump administration as local TV giant announces $6.2 billion merger with rival
The initiatives being pursued by the Trump administration offer local broadcasters the opportunity to expand reach, level the playing field, and compete more effectively,’ Perry Sook said in a statement.
Competing TV stations in Des Moines and the Quad Cities could be owned by the same parent company following a proposed merger of Tegna and Nexstar.
Nexstar’s proposed $6.2 billion acquisition of Tegna could bring Cleveland’s WJW and WKYC under one owner, but regulatory hurdles make the deal’s local impact uncertain.
(NEXSTAR) — Two Americans are dead after separate drowning incidents at a multi-million dollar “exclusive” vacation destination in the Bahamas, according to authorities.