Nexstar to Buy Tegna for $3.5 Billion
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Nexstar’s proposed $6.2 billion acquisition of Tegna could bring Cleveland’s WJW and WKYC under one owner, but regulatory hurdles make the deal’s local impact uncertain.
Nexstar-Tegna merger could reshape Cleveland TV landscape, combining WKYC and WJW Aug. 20, 2025, 7:52 a.m. Ohio legislators paved the way for a new Browns stadium — but ODOT didn’t approve a permit: The Wake Up for Wednesday, Aug. 20, 2025 Aug. 20, 2025, 6:14 a.m.
Nexstar Media will acquire rival broadcast company Tegna for $6.2 billion according to a joint announcement on Tuesday, another sign of consolidation in an already contracting TV broadcast sector.
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Nexstar CEO praises Trump administration as local TV giant announces $6.2 billion merger with rival
The initiatives being pursued by the Trump administration offer local broadcasters the opportunity to expand reach, level the playing field, and compete more effectively,’ Perry Sook said in a statement.
NBC affiliate 9News draws the most viewers to its daily newscasts, followed by KDVR (Fox), KCNC (CBS), KMGH (ABC) and KWGN (The CW, which is also owned by Nexstar), Comscore reported. Leaders 9News and Fox31 have frequently jockeyed for the top position in the Denver-Aurora market over the last five years, Comscore has reported.
Nexstar says its $6.2 billion takeover of Tegna is expected to close in the second half of 2026 — timing that would align with the lucrative wave of political ads during the midterm elections. But that plan still depends on Tegna shareholders, who may yet consider Sinclair’s competing offer.
A former marketing producer for WTHR shares concerns of potential layoffs due to potential Nexstar Media Group acquisition of TEGNA.