Nexstar to buy rival Tegna for $6.2B — creating nationwide local TV giant
1. Nexstar is acquiring Tegna for $6.2 billion in cash. 2. The deal values Tegna at $22 per share, a 31% premium. 3. Nexstar aims to expand into key metropolitan markets. 4. Sinclair's attempted acquisition faced challenges due to debt. 5. Regulatory approval is needed for the deal to finalize.