Nexstar Media acquires the Rivale Rivale Tegna company for $ 6.2 billion, according to a joint announcement on Tuesday, another sign of consolidation in an already contractual television distribution sector.
The transaction, if approved, will bring together two major actors in American television, expanding Nexstar’s scope in the landscape of American television and local information. Nexstar supervises more than 200 property stations and partners in 116 national markets today and also manages networks like the CW and the newspaper. Tegna has 64 stations of news on 51 markets.
“After completing the transaction, the combined entity will be a leading local media company, well positioned to compete with the fragmented and rapidly evolving market today,” companies said in identical declarations shared on their respective websites. “The new company will be able to serve communities by guaranteeing the long -term vitality of local news and programming from local sources of trust and preserving the diversity of local voice and opinion.”
Nexstar, based in Irving, Texas, will pay $ 22 cash for each action of the actions in circulation of Tegna. Discussions on an agreement were reported earlier this month by the Wall Street Journal.
Thanks to the agreement, Nexstar said that he would also be able to provide advertisers with a larger wide range of competitive local and national broadcast options. The agreement will also allow the media company to extend its presence on the markets of Atlanta, Phoenix, Seattle and Minneapolis, said the president and chief executive officer of Nexstar, Perry Sook, in the announcement.
“The initiatives pursued by the Trump administration offer local broadcasters the possibility of developing the scope, leveling the rules of the game and competing more effectively with major technological and inherited media companies that have no control and vast financial resources,” he said.
If it is approved by the shareholders of Tegna, the agreement should conclude in the second half of 2026.
The news occurs while more and more Americans are going from cable – in what is called “cord cut” – streaming. According to a Gallup survey in July in July around 10,000 American adults, 83% said they were watching streaming services, while 36% said they are currently taking on television by cable or satellite at home.
Nexstar’s shares jumped 7.6% in trading prior to the market. Tegna’s stock increased by 4.3%.
contributed to this report.
