Tegna rises after agreeing to $3.54 bln takeover by Nexstar

Tegna

19/08/2025 12:54

** Media company Tegna's TGNA.N shares rise 4% to $20.99 in premarket trading

** Television broadcaster Nexstar Media Group NXST.O to acquire Tegna for $3.54 bln

** Offer of $22 per share represents about 44% premium to Tegna's Aug. 8 closing price, before deal reports; overall deal valued at $6.2 billion, including debt

** Deal expected to close in H2 2026, expanding Nexstar's footprint in Atlanta, Phoenix and Seattle

** NXST targets annual net savings of about $300 million from the deal

** Stock up over 20% this month

** Four of six brokerages rate the stock "buy" or higher, and two "hold"; their median PT is $21

 (Reporting by Nikhil Sharma)

 ((Nikhil.Sharma@thomsonreuters.com))