Nexstar Media Group, the largest TV station ownership group in the U.S., has agreed to acquire Tegna Inc.'s 64 broadcast outlets, the companies announced Tuesday.

The deal will be the first major test of the TV station ownership rules under President Trump's Federal Communications Commission. FCC Chairman Brendan Carr has called the current rules arcane and has indicated he's open to change.

Irving, TX-based Nexstar, which owns KTVI (Channel 2) and KPLR (Channel 11), will pay $22 a share for Tegna, which owns KSDK (Channel 5), in a deal valued at $6.2 billion. The offer is 30% over the 30-day average of Tegna's closing stock price on Aug. 8.

The deal would put two of St. Louis' three broadcast news operations under the same owner. KTVI and KPLR have a joined news operation.

Nexstar h

See Full Page