The merger will establish the country’s largest local broadcasting company, combining 265 television stations across 44 states and Washington, D.C.
TYSONS, Va. — Nexstar Media Group, which owns KOIN 6, the CBS affiliate in Portland, announced Tuesday that it will acquire TEGNA Inc., owner of KGW 8, the NBC affiliate in Portland, in an all-cash transaction valued at $6.2 billion, including the refinancing of TEGNA’s outstanding debt. The purchase, priced at $22.00 per share — a 31% premium over TEGNA’s 30 day average stock price — is expected to close in the second half of 2026, pending approval from regulators and shareholders.
The merger will establish
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