Nexstar Media Group, the owner of ABC27, plans to purchase Tegna, the owner of FOX43.

Nexstar announced on Tuesday that it plans to acquire all outstanding shares of Tegna for $22 per share in a cash transaction valued at $6.2 billion.

Perry Sook, chairman and CEO of Nexstar said the acquisition would increase his company’s reach by expanding its presence in major markets like Atlanta, Phoenix, Seattle, and Minneapolis.

“Nexstar has a stellar long-term record of growth through its deals, having completed many well-received transactions since 2011, including the 2019 acquisition of Tribune Media,” Sook said in a news release. “The playbook we followed to make those transactions successful – improving and increasing local content, executing on identified synergies, and quickly de-leveragi

See Full Page