Nexstar, Tegna merger closes after winning regulatory approval
CNBC
Nexstar has closed its $6.2 billion acquisition of Tegna after winning approval from the Federal Communications Commission and Department of Justice.
Nexstar Media Group closed its acquisition of fellow broadcast station group owner Tegna after sealing regulatory approval, despite antitrust lawsuits filed against the deal in recent days.
Nexstar's $6.2 billion merger with Tegna brings together more than 260 local broadcast TV affiliate stations across the U.S.
Nexstar and Tegna, like other broadcast station group peers, have been looking to consolidate as the industry faces the same challenges as its cable and entertainment media counterparts — namely the drop in pay-TV customers due to the rise of streaming and tech options.
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