News Summary

• Nexstar Media Group is buying broadcast rival Tegna for $6.2 billion.
• If the transaction is approved, Nexstar will pay $22 in cash for each share of Tegna’s outstanding stock.
• Nexstar oversees more than 200 owned and partner stations in 116 markets nationwide.
• Tegna owns 64 news stations across 51 markets across the U.S.
• The potential purchase arrives amid wider regulatory shifts in the broadcast TV industry..
• The Federal Communications Commission, which will need to give the transaction the green light, has long advocated for loosening industry restrictions.