Nexstar Media Group, Tegna
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Nexstar beat out rival Sinclair, which was offering between $25 and $30 per share, significantly above Nexstar's winning bid.
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StockStory.org on MSNTEGNA (TGNA) Stock Is Up, What You Need To Know
Shares of broadcasting and digital media company TEGNA (NYSE:TGNA) jumped 4.5% in the morning session after it announced a definitive agreement to be acquired by Nexstar Media Group (Nasdaq: NXST) in an all-cash deal.
U.S. television station owner Sinclair has made an offer to merge its broadcast TV business with smaller rival Tegna , which is in advanced talks on a potential sale to Nexstar Media Group , a person familiar with the talks told Reuters on Monday.
Nextstar is looking to buy Tegna in a $6.2 billion cash deal — but will the FCC allow it despite a conflict with current TV ownership rules?