Nexstar Media Group has announced the completion of its acquisition of Tegna in a transaction valued at $6.2 billion. This acquisition was finalized following approvals from the Federal Communications Commission (FCC) and the Department of Justice.
This acquisition further expands Nexstar’s position as the largest TV station group in the United States by incorporating Tegna’s resources. The merger results in a consolidated company with 259 full-power stations, following the divestiture of six stations. These stations are affiliated with major networks such as ABC, CBS, Fox, and NBC. The combined entity will cover 80% of U.S. television households, though it will hold ownership of less than 15% of the 1,777 local TV stations nationwide.
The announcement follows legal challenges from eight state attorneys general and DirecTV, who filed lawsuits aiming to prevent the merger. They claim the acquisition would lead to increased prices for consumers and negatively impact local news production.
The FCC, in approving the deal, granted a waiver to the companies from its ownership-cap rule, which restricts any local station owner from reaching more than 39% of U.S. households. Nexstar has agreed to divest six stations across different markets and has pledged to ensure affordability and localism, as per the FCC’s conditions.
In a statement, Perry Sook, Nexstar’s founder, chairman, and CEO, expressed gratitude to President Donald Trump and FCC chairman Brendan Carr for facilitating the transaction’s progression.
“This transaction is essential to sustaining strong local journalism in the communities we serve,” said Perry Sook in a statement. “By bringing these two outstanding companies together, Nexstar will be a stronger, more dynamic enterprise — better positioned to deliver exceptional journalism and local programming with enhanced assets, capabilities, and talent. We are grateful to President Trump, Chairman Carr, and the DOJ for recognizing the dynamic forces shaping the media landscape and enabling this transaction to move forward.”
Brendan Carr commented on the deal’s approval, highlighting that the FCC is acting with awareness of the current media marketplace and ensuring that broadcasters have the necessary resources to continue investing in local news operations.
“The FCC has been focused on empowering broadcast TV stations to serve their local communities, consistent with their public interest obligations,” Carr stated. “Today’s agency decision does exactly that as both the record and Nexstar’s enforceable commitments demonstrate.”
On December 1, 2025, the FCC accepted applications seeking approval for the transfer of control of certain TV stations from Tegna to Nexstar. At that time, Tegna operated 64 full-power broadcast television stations, one AM radio station, and one FM radio station, while Nexstar operated 201 stations across 116 television markets.
The companies reported overlap in 35 designated market areas (DMAs). The merged company is set to operate 265 full-power television stations in 44 states and the District of Columbia, covering 132 of the country’s 210 television DMAs. The applicants sought a waiver of the FCC’s 39% TV station group ownership cap and additional waivers of the Local Television Ownership rule in 23 DMAs to permit ownership of more than two stations in those markets; the consolidated company would own two stations in 17 DMAs.
Nexstar pledged to divest the following TV stations within two years of the Tegna deal’s closure: KTVD in Denver, Colorado; WTHR in Indianapolis, Indiana; WCTX in New Haven, Connecticut; WAVY in Portsmouth, Virginia; WUPL in Slidell, Louisiana; and KNWA in Rogers, Arkansas.
In line with the FCC’s order approving the transaction, Nexstar has also vowed to increase its investment in local news and programming, including expanding local news offerings in acquired markets. To address concerns about pricing and affordability, Nexstar has committed to extend existing retransmission agreements with pay-TV providers at current rates through November 30, 2026. Additionally, Nexstar has committed to equal opportunity employment and nondiscrimination policies.
Nexstar first announced its agreement to acquire Tegna in August 2025.
The lawsuit against the Nexstar-Tegna merger, filed on March 18 by eight states—California, New York, Colorado, Illinois, Oregon, North Carolina, Connecticut, and Virginia—claims the merger violates Section 7 of the Clayton Act, which prohibits mergers that significantly reduce competition or create a monopoly.
“This merger is illegal, plain and simple, running contrary to federal antitrust laws that protect consumers,” said California Attorney General Rob Bonta in a statement. “When broadcast media is owned by a handful of companies, we get fewer voices, less competition, and communities lose the critical check on power that local journalism delivers.”
Last September, Nexstar garnered attention for its decision to pre-empt Jimmy Kimmel’s late-night show on its ABC affiliates, along with Sinclair, due to comments Kimmel made about the MAGA movement. This move was perceived as an effort to gain favor with FCC’s Carr, who had strongly criticized Kimmel’s remarks and suggested local TV stations could risk losing their broadcast licenses if Kimmel was not removed from the air. Nexstar denied that Carr’s statements influenced their decision. Three days after ABC reinstated Kimmel, Nexstar resumed airing “Jimmy Kimmel Live!” as did Sinclair. Nexstar stated that Disney executives had constructively addressed their concerns. Sook, in a memo with president/COO Mike Biard, clarified that Nexstar’s decision to pull Kimmel was not a violation of the First Amendment: “No one has an unlimited right to say whatever they want on a talk show.”
