Tegna rises after agreeing to $3.54 bln takeover by Nexstar
ReutersAug 19, 2025 11:54 AM
Media company Tegna's TGNA.N shares rise 4% to $20.99 in premarket trading
Television broadcaster Nexstar Media Group NXST.O to acquire Tegna for $3.54 bln
Offer of $22 per share represents about 44% premium to Tegna's Aug. 8 closing price, before deal reports; overall deal valued at $6.2 billion, including debt
Deal expected to close in H2 2026, expanding Nexstar's footprint in Atlanta, Phoenix and Seattle
NXST targets annual net savings of about $300 million from the deal
Stock up over 20% this month
Four of six brokerages rate the stock "buy" or higher, and two "hold"; their median PT is $21
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