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Nexstar Media will acquire Tegna for $3.54 billion, expanding Nexstar's market presence and creating a larger local TV network.

The merger aims to increase competitiveness against Big Tech and national media for advertising revenue in a changing media landscape.

While the merger strengthens Nexstar's position, challenges remain in competing for content and viewers against larger tech companies.

The company that owns Northeast Ohio NBC affiliate WKYC is being purchased.

Nexstar Media has agreed to buy smaller rival Tegna for $3.54 billion, creating a local-TV powerhouse that seeks to compete better with Big Tech and national media for advertising dollars.

Acquiring Tegna TGNA.N will expand Nexstar's presence in nine of the top 10 U.S. markets, covering 80% of TV ho

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