Nexstar Media Group closes acquisition of TEGNA Inc.

READ MORE from The Washington Post

FCC Chairman Brendan Carr allowed the deal to proceed by waiving a cap that has historically barred station owners from expanding to reach more than 39 percent of American households. Nexstar previously said the deal would give it 265 stations across the country, reaching 80 percent of households. READ MORE

IRVING, Texas — Nexstar Media Group, Inc. announced that it has closed its acquisition of TEGNA Inc. following approval of the transaction from the Federal Communications Commission (FCC) and the United States Department of Justice (DOJ).

Nexstar’s Founder, Chairman and Chief Executive Officer, Perry Sook commented: “This transaction is essential to sustaining strong local journalism in the communities we serve. By bringing these two outstanding companies together, Nexstar will be a stronger, more dynamic enterprise — better positioned to deliver exceptional journalism and local programming with enhanced assets, capabilities and talent. We are grateful to President Trump, Chairman Carr and the DOJ for recognizing the dynamic forces shaping the media landscape and enabling this transaction to move forward.”

About Nexstar Media Group:

Nexstar Media Group, Inc. (NASDAQ: NXST), is a leading diversified media company that produces and distributes engaging local and national news, sports and entertainment content across its television and digital platforms.