Kirkland & Ellis advised Nexstar Media Group, Inc. (Nasdaq: NXST), a leading diversified media company that produces and distributes local and national news, sports and entertainment content across its television and digital platforms, on a definitive agreement whereby, subject to regulatory approvals, Nexstar will acquire all outstanding shares of TEGNA Inc. (NYSE: TEGNA), a provider of local news with 64 television stations in 51 U.S. markets, for $22.00 per share in a cash transaction valued at $6.2 billion, inclusive of TEGNA’s outstanding net debt and estimated transaction fees and expenses. Following completion of the transaction, the combined entity will be a leading local media company, well-positioned to compete in today’s fragmented and rapidly evolving marketplace. The transaction is expected to close by the second half of 2026.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.From Legal Desire
Is your firm the one being cited, or the one being skipped?
We ran the test. On several everyday legal questions, software companies are answering and law firms are not. We help firms fix that, and we build the technology behind the practice.
The advising firms, the named deal team, the value and the parties, with every other announced deal by the same firms and lawyers. Open the deal record
