Aug. 19 at 12:46 PM
TEGNA Inc rose 3.5% after Nexstar Media Group agreed to acquire the broadcaster for
$6.2B in cash, valuing shares at
$22.00 — a 31% premium to the 30-day average as of Aug. 8, 2025. The deal, unanimously approved by TEGNA’s board, will create a broadcasting giant with 265 stations in 44 states plus D.C., reaching ~80% of U.S. TV households.
NXST expects ~$ 300M in annual synergies and >40% boost to standalone free cash flow in the first year post-close.
$NXST $TEGNA