Nexstar Expands Local TV Empire with Major Acquisition
The FCC has approved Nexstar Media Group's acquisition of local TV station operator Tegna, solidifying Nexstar's position as a dominant player in the U.S. television market.
The Federal Communications Commission (FCC) has given the green light to Nexstar Media Group's acquisition of Tegna Inc., a major local television station operator in the United States. This deal, valued at approximately $5.4 billion, will further expand Nexstar's already substantial footprint in the domestic TV market, making it one of the largest station group owners in the country.
Tegna, which was spun off from the Gannett media company in 2015, operates 64 television stations across 51 markets, reaching nearly 39% of U.S. households. By acquiring Tegna, Nexstar will strengthen its position as a leading local news provider, with a combined portfolio of 199 stations in 116 markets, covering over 68% of U.S. television households.
{{IMAGE_PLACEHOLDER}}Source: The New York Times
