TYSONS, Va. — Nexstar Media Group announced Tuesday that it will acquire TEGNA Inc. in an all-cash transaction valued at $6.2 billion, including the refinancing of TEGNA’s outstanding debt. The purchase, priced at $22.00 per share—a 31% premium over TEGNA’s 30 day average stock price—is expected to close in the second half of 2026, pending approval from regulators and shareholders. 

The merger will establish the country’s largest local broadcasting company, combining 265 television stations across 44 states and Washington, D.C. Together, the enlarged network will reach nearly 80% of U.S. households, with a presence in nine of the top ten U.S. television markets and 82 of the top 100. 

Executives from both companies said the combination would expand news coverage, strengthen digital off

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