TV Giant Nexstar Agrees to Acquire a Rival, Tegna
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Nexstar Media Group, FCC and Tegna
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U.S. television station owner Sinclair has made an offer to merge its broadcast TV business with smaller rival Tegna , which is in advanced talks on a potential sale to Nexstar Media Group , a person familiar with the talks told Reuters on Monday.
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StockStory.org on MSNTEGNA (TGNA) Stock Is Up, What You Need To Know
Shares of broadcasting and digital media company TEGNA (NYSE:TGNA) jumped 4.5% in the morning session after it announced a definitive agreement to be acquired by Nexstar Media Group (Nasdaq: NXST) in an all-cash deal.
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.