Nexstar, a leading local media company, has acquired Tegna Inc., a prominent owner of television stations, for an undisclosed amount. This corporate acquisition sees one of the nation's largest broadcast groups expanding its footprint significantly through the purchase of a key industry player.
Tegna Inc. operates 64 television stations across 51 U.S. markets, reaching over 100 million people monthly through web, mobile apps, streaming, and linear television platforms. The company is dedicated to providing trusted local news and services, producing impactful content recognized with numerous national awards. Tegna is also a significant player in digital advertising, offering solutions like Premion, its over-the-top (OTT) advertising service, and owning multicast networks such as True Crime Network, Twist, and Quest. Its mission centers on building a sustainable future for local news and offering comprehensive marketing solutions to businesses.
This acquisition is strategically aimed at enhancing scale, expanding audience reach, and driving operational efficiencies across the combined entity. The integration is expected to create a more robust platform for delivering local news and information, as well as providing more expansive advertising solutions for businesses seeking to reach consumers across diverse media channels. By combining their portfolios, Nexstar and Tegna aim to leverage shared expertise in content creation, digital innovation, and community engagement.
Looking ahead, the combined entity is positioned to become a dominant force in the local media landscape. This strategic move is anticipated to strengthen its capacity to deliver high-quality, trusted local journalism and innovative advertising services, ensuring continued relevance and growth in an evolving media environment.