• Enhances Nexstar’s Position as a Leading Local Media Company • Preserves High-Quality Local Journalism and Diversity of Opinion • Strengthens Ability to Compete with Big Tech and Big Media • Expected to Drive Increased Profitability and Returns for Nexstar Shareholders

IRVING, Texas and TYSONS, Virginia (Aug. 19, 2025) – Nexstar Media Group, Inc. (Nasdaq: NXST) (“Nexstar”) and TEGNA Inc. (NYSE: TEGNA) (“TEGNA”) announced Tuesday that they entered into a definitive agreement, whereby, subject to regulatory approvals, Nexstar will acquire all outstanding shares of TEGNA for $22.00 per share in a cash transaction valued at $6.2 billion, inclusive of TEGNA’s net debt and estimated transaction fees and expenses.

The purchase price represents a 31% premium to TEGNA’s average 30-day ave

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