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Nexstar Media Group, Inc. Enters Into Definitive Agreement to Acquire TEGNA Inc. for $6.2 Billion in Accretive Transaction

1. Nexstar will acquire TEGNA for $6.2 billion, a 31% premium. 2. The deal is subject to regulatory approvals and may strengthen Nexstar's market position.

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FAQ

Why Very Bullish?

The acquisition provides strategic growth and is valued significantly above TEGNA's market value, echoing past successful acquisitions like Tribune that enhanced Nexstar's portfolio.

How important is it?

The acquisition could significantly boost NXST's earnings potential and market share, influencing investor sentiment positively.

Why Long Term?

The acquisition, once completed, is expected to yield synergies and increased revenues over several years, similar to previous mergers enhancing market share.

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IRVING, Texas & TYSONS, Va.--(BUSINESS WIRE)--Nexstar Media Group, Inc. (Nasdaq: NXST) (“Nexstar”) and TEGNA Inc. (NYSE: TEGNA) (“TEGNA”) announced today that they entered into a definitive agreement (the “Agreement”) whereby, subject to regulatory approvals, Nexstar will acquire all outstanding shares of TEGNA for $22.00 per share in a cash transaction valued at $6.2 billion, inclusive of TEGNA's net debt and estimated transaction fees and expenses. The purchase price represents a 31% premium.

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