The Nexstar Media will acquire a rival broadcast company Tagna for $ 6.2 billion, according to a joint announcement on Tuesday, which is another sign of consolidation in an already contracted TV broadcasting field.
The transaction, if approved, will bring two major players together in American television, which will expand the reach of Nexstar in the American television and local news scenario. Nexstar today oversees more than 200 ownership and partner stations in 116 markets across the country and also runs networks such as CW and news. Tegna is the owner of 64 news stations in 51 markets.
“After the transactions are completed, the companies will be a major local media company, which will be well deployed to compete in today’s fragmented and rapidly developed market.” “The new company would be better to serve communities by ensuring the long -term vitality of local news to programming local news and reliable local sources to preserve the diversity of local voice and opinion.”
Irving, Nexstar, located in Texas, will pay $ 22 cash for each share of the outstanding stock of the Tagna. There were talks of a deal Informed Earlier this month by The Wall Street Journal.
Through the deal, Nexstar stated that it would be able to provide advertisers more width of competitive local and national broadcasting and digital advertising options. The agreement will allow the media company to expand its appearance in Atlanta, Phoenix, Seattle and Minianpolis Markets, the announcement by Nexstar President and CEO Perry Suk.
He said, “The initiative being chased by the Trump administration provides the opportunity to expand the access to local broadcasters, level the playground and to compete more effectively with large technology and heritage big media companies, whose access and huge financial resources have been uncontrolled,” he said.
If TEGNA is approved by shareholders, the deal is expected to be closed in the second half of 2026.
This news comes as more Americans than cables-known as “cord-cutting”-for streaming. July 1 according to Gallup Voting Of about 10,000 American adults, 83% said they watch streaming services, while 36% said they currently subscribe to cable or satellite TV at home.
Nexstar’s shares jumped 7.6% in premarket trading. Tagna’s stock rose 4.3%.
Contributed to this report.
