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19.08.25 - 15:03
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Local TV-Station Owner Sinclair Seeks Merger With Rival Tegna (ZeroHedge)
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Local TV-Station Owner Sinclair Seeks Merger With Rival Tegna
One week after Sinclair, one of the largest U.S. broadcast station owners, announced a "strategic review" of its business, the Wall Street Journal reports the broadcaster has offered to merge with rival Tegna, according to people familiar with the matter.
The broadcaster, based in Hunt Valley, Maryland - just north of the crime-ridden Baltimore City - has proposed separating its Ventures business, which includes several media assets such as the Tennis Channel, and merging its broadcast TV unit with Tegna in a deal valuing Tegna shares at around $25 to $30.
The deal to merge Sinclair, which operates 178 stations across major markets, and Tegna, which operates 64 stations in major markets, comes as Tegna is in advanced talks with rival Nexstar Media. For context, Nexstar is the largest television broadcaster in the nation, with 200 stations across major markets.
Here is the deal structure according to WSJ sources:
Str...
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19.08.25 - 13:06
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Nexstar Media Group, Inc. Enters Into Definitive Agreement to Acquire TEGNA Inc. for $6.2 Billion in Accretive Transaction (Business Wire)
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Enhances Nexstar's Position as a Leading Local Media Company
Preserves High-Quality Local Journalism and Diversity of Opinion
Strengthens Ability to Compete with Big Tech and Big Media
Expected to Drive Increased Profitability and Returns for Nexstar ShareholdersIRVING, Texas & TYSONS, Va.--(BUSINESS WIRE)--Nexstar Media Group, Inc. (Nasdaq: NXST) (“Nexstar”) and TEGNA Inc. (NYSE: TEGNA) (“TEGNA”) announced today that they entered into a definitive agreement (the “Agreement”) whereby, subject to regulatory approvals, Nexstar will acquire all outstanding shares of TEGNA for $22.00 per share in a cash transaction valued at $6.2 billion, inclusive of TEGNA's net debt and estimated transaction fees and expenses. The purchase price represents a 31% premium to TEGNA's average 30-day average stock price ending August 8, 2025, the last closing stock price prior to media reports of a potential transaction. Following completion of the transaction, the combined entity will be a leading local media com...
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