00:00Nexstar Media Group is the biggest powerhouse in local television, owning more TV stations than any other major broadcaster.
00:08And now Nexstar is expanding its footing as the largest conglomerate after a $6.2 billion deal to buy Tegna Media.
00:20When you turn on your local TV station, oftentimes they're not owned by the networks themselves.
00:26Instead, companies like Nexstar or Sinclair own and operate these stations, then affiliate with ABC, CBS, NBC, or Fox to share network programming while also airing their own local news content.
00:42The biggest player in that game, owning the most local TV stations, is Nexstar, which runs more than 200 stations nationwide, along with owning the CW and NewsNation networks.
00:55Now, it will be acquiring an additional 64 stations across 51 TV markets in its merger with Tegna.
01:04All of this comes as Trump's FCC chair has rolled back nearly 100 longstanding broadcast regulations.
01:12Nexstar's CEO, Perry Sook, says the recent deregulation will allow local TV operators to better compete against big tech and the legacy media.
01:23In its announcement of the deal, Sook says the initiatives being pursued by the Trump administration offer local broadcasters the opportunity to expand reach, level the playing field, and compete more effectively with the big tech and legacy big media companies that have unchecked reach and vast financial resources.
01:44The Nexstar, Tegna deal still requires shareholder and FCC regulatory approval, but if cleared, it's expected to close in the second half of 2026.
01:57Thanks for watching our news update.
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