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 represents a 31% premium on Tegna's pre-deal stock price. 3. Nexstar aims to enhance its local broadcasting reach and programming. 4. Sinclair, a rival, struggled with debt and could not compete effectively. 5. The merger is optimistic under current deregulatory policies and expected approvals.