Tysons Company Tegna Completes $740 Million Deal For 11 Tv Stations


By Robert Powell, Virginia Business

Tysons-based Tegna Inc. has completed its $740 million cash acquisition of 11 television stations from Texas-based Nexstar Media Group.

Tegna said the deal adds complementary markets to its existing network affiliates, including four stations in election battleground states.

The 11 stations were among 19 divested by Nexstar for a total of $1.32 billion to meet federal antitrust requirements as it acquires Chicago-based Tribune Media for $7.2 billion.

The Tribune Media deal will make Nexstar the largest TV station company in the U.S., with 197 stations in 115 markets.

In addition to the 11 stations sold to Tegna, Nexstar sold eight stations formerly owned by Tribune Media -- including WTVR in Richmond and WTKR and WGNT in Norfolk -- to E.W. Scripps Co. for $580 million this week.


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