Nexstar closes $6.2 billion acquisition of TEGNA

Nexstar Media Group announced the official closure of its $6.2 billion acquisition of TEGNA on Thursday, a move that significantly consolidates the local television landscape in Northeastern Pennsylvania and across the country. The finalization followed swift approval from the Federal Communications Commission (FCC) and the Department of Justice, despite a last-minute federal lawsuit filed by eight states and a separate challenge from DIRECTV seeking to block the merger on antitrust grounds. Nexstar, which already owns WBRE-TV in the Scranton/Wilkes-Barre market, now becomes the parent company of longtime rival WNEP-TV, bringing two of the region's primary news sources under a single corporate umbrella.

The deal was made possible by the FCC granting a waiver to the national ownership cap, which historically prohibits a single broadcaster from reaching more than 39% of American households; the combined entity is projected to reach approximately 80%. As a mandatory condition for regulatory approval, Nexstar has committed to divesting six stations in markets such as Denver, Indianapolis, and New Haven to mitigate concerns over excessive market control. While Nexstar CEO Perry Sook characterized the merger as essential for the survival of local journalism in a digital age, critics—including Democratic FCC Commissioner Anna Gomez—warn that the consolidation could lead to newsroom layoffs and higher costs for cable and satellite subscribers.