(Reuters) -Television broadcaster Nexstar Media Group is in advanced talks to acquire rival Tegna, a person familiar with the matter told Reuters on Friday.<\/p>\n
Shares of Tegna surged 30% in extended trading following the report, while Nexstar’s shares were largely flat.<\/p>\n
A potential deal between the two companies would mark a significant step in the ongoing consolidation of the U.S. television industry, as broadcasters adapt to shifting consumer habits driven by cord-cutting and the rapid expansion of streaming, amid expectations of looser regulations under U.S. President Donald Trump’s administration.<\/p>\n
Nexstar, owns or partners with over 200 stations in 116 markets. It also operates high-profile media properties including The CW and NewsNation, and has recently increased its focus on sports content.<\/p>\n
Tegna owns 64 stations and operates networks such as True Crime Network. The company has a market valuation of approximately $2.42 billion, compared with Nexstar\u2019s $5.56 billion, according to LSEG data.<\/p>\n
The Wall Street Journal, which first reported the talks, said a deal could be finalized soon, provided negotiations avoid last-minute obstacles.<\/p>\n
Both Nexstar and Tegna declined to comment on the report.<\/p>\n
Tegna has been subject to takeover interest in the past. In 2022, it agreed to be taken private by Standard General in a deal valued at $8.6 billion, including debt, but later terminated the merger agreement following regulatory scrutiny.<\/p>\n
(Reporting by Milana Vinn in New York and Arsheeya Bajwa in Bengaluru; Editing by Tasim Zahid)<\/p>\n","protected":false},"excerpt":{"rendered":"(Reuters) -Television broadcaster Nexstar Media Group is in advanced talks to acquire rival Tegna, a person familiar with…\n","protected":false},"author":2,"featured_media":68668,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[54],"tags":[88,49910,942,49911,49912,92],"class_list":["post-68667","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tv","tag-entertainment","tag-nexstar-media-group","tag-president-donald-trump","tag-tegna","tag-television-broadcaster","tag-tv"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/68667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=68667"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/68667\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/68668"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=68667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=68667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=68667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}