TV Giant Nexstar Agrees to Acquire a Rival, Tegna
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Nexstar says its $6.2 billion takeover of Tegna is expected to close in the second half of 2026 — timing that would align with the lucrative wave of political ads during the midterm elections. But that plan still depends on Tegna shareholders, who may yet consider Sinclair’s competing offer.
N exstar Media, owner of Fox 40 (KTXL), announced Monday it plans to acquire Tegna, the parent company of ABC 10 (KXTV), in a $6.2 billion cash deal that includes Tegna's outstanding debt.
Nexstar’s proposed $6.2 billion acquisition of Tegna could bring Cleveland’s WJW and WKYC under one owner, but regulatory hurdles make the deal’s local impact uncertain.