Nexstar Media Group Completes TEGNA Acquisition

By Chris Stiles • Friday, March 20 14:50 • Permanent Link

Nexstar Media Group, Inc. (Nasdaq: NXST) has successfully completed the acquisition of TEGNA Inc. after securing approval from the Federal Communications Commission (FCC) and the United States Department of Justice (DOJ). The acquisition is aimed at sustaining strong local journalism and enhancing the delivery of exceptional journalism and local programming.

Following the acquisition, Nexstar Media Group, Inc. is now positioned as a leading diversified media company with an expanded portfolio of engaging local and national news, sports, and entertainment content across its television and digital platforms. This strategic move is expected to strengthen the company's assets, capabilities, and talent.

Investor Contacts: * Lee Ann Gliha, Chief Financial Officer, Nexstar Media Group, Inc. * 972/373-8800

Media Contact: * Gary Weitman, EVP/Chief Communications Officer, Nexstar Media Group, Inc. * 972/373-8800 or [email protected] As a result of these announcements, the company's shares have moved -0.9% on the market, and are now trading at a price of $216.32. For more information, read the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.