Nexstar to Buy Tegna for $3.5 Billion
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TEGNA, Nexstar Media Group
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Nexstar CEO praises Trump administration as local TV giant announces $6.2 billion merger with rival
The initiatives being pursued by the Trump administration offer local broadcasters the opportunity to expand reach, level the playing field, and compete more effectively,’ Perry Sook said in a statement.
Today we’re going to be looking at the largest such local TV station owner/operator in the United States, Nexstar Media Group ( NASDAQ: NXST ). They’re looking to get even bigger through an announced acquisition of Tegna ( TGNA ), a substantial competitor.
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.
NBC affiliate 9News draws the most viewers to its daily newscasts, followed by KDVR (Fox), KCNC (CBS), KMGH (ABC) and KWGN (The CW, which is also owned by Nexstar), Comscore reported. Leaders 9News and Fox31 have frequently jockeyed for the top position in the Denver-Aurora market over the last five years, Comscore has reported.
A former marketing producer for WTHR shares concerns of potential layoffs due to potential Nexstar Media Group acquisition of TEGNA.
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Sportico on MSNNexstar’s Tegna Buy Creates Larger Player in Local Sports Rights
Nexstar, the largest broadcast affiliate owner in the U.S. and owner of the CW, announced Tuesday it has entered an agreement to buy smaller rival Tegna in an all-cash deal valued at $6.2 billion. The pending deal would bring together recent benefactors of the disruption of regional sports networks.
(NEXSTAR) — Two Americans are dead after separate drowning incidents at a multi-million dollar “exclusive” vacation destination in the Bahamas, according to authorities.