Nexstar Media Group is acquiring Tegna for $6.2 billion to enhance local news offerings. Nexstar has 200+ stations in 116 markets, while Tegna owns 64 stations in 51 markets. Nexstar will pay $22 per Tegna share. The deal could spur more consolidation in the industry.

Regulatory shifts support the acquisition, including FCC repealing outdated broadcast rules. The court vacated the “top four” rule, allowing for potential mergers. Both companies praised deregulation in earnings calls. Nexstar and Tegna offer digital news and streaming services, adapting to changing consumer habits. Cord-cutting has impacted broadcast TV.

The deal is expected to close by the second half of 2026 pending Tegna shareholder approval. Nexstar’s shares surged by 7.6%, and Tegna’s rose by 4.3% in premarket trading.

Read more at Yahoo Finance: Nexstar Media Group buying Tegna in deal worth $6.2 billion