Nexstar to acquire rival broadcast company Tegna in $6.2 billion deal

Updated on: August 19, 2025 / 10:12 AM EDT / CBS News
Nexstar Media will acquire rival broadcast company Tegna for $6.2 billion, according to a joint announcement on Tuesday, another sign of consolidation in an already contracting TV broadcast sector.

The transaction, if approved, will bring together two major players in U.S.

television, expanding Nexstar's reach in the U.S.

television and local news landscape.

Nexstar oversees more than 200 owned and partner stations in 116 markets nationwide today and also runs networks like The CW and NewsNation.

Tegna owns 64 news stations across 51 markets.

Through the deal, Nexstar said it would also be able to provide advertisers with a greater breadth of competitive local and national broadcast and digital advertising options.

The agreement will also allow the media company to expand its presence in the Atlanta, Phoenix, Seattle and Minneapolis markets, Nexstar's chairman and CEO Perry Sook said in the announcement.

"The initiatives being pursued by the Trump administration offer local broadcasters the opportunity to expand reach, level the playing field, and compete more effectively with the Big Tech and legacy Big Media companies that have unchecked reach and vast financial resources," he said.

The Associated Press contributed to this report.