TV Giant Nexstar Agrees to Acquire a Rival, Tegna
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Nexstar’s takeover of Tegna, enabled by Trump-era deregulation, positions the company to reach 80% of U.S. households
The deal will give the former 265 television stations in 44 states and D.C., representing 80% of U.S. television households
Nexstar beat out rival Sinclair, which was offering between $25 and $30 per share, significantly above Nexstar’s winning bid.
Within San Antonio, TEGNA oversees operations of KENS 5, while Nexstar doesn't have a dedicated station covering the Alamo City. Looking northward, it would change the media landscape within the Texas capital market,
Nexstar Media Group, the parent company of Portsmouth-based WAVY-TV and WVBT-TV, is buying local news broadcast rival Tegna, the parent company of Norfolk-based 13News Now or WVEC-TV, for $6.2