The local TV giant Nexstar closed its $6.2 billion takeover of rival Tegna on Thursday, creating a TV station behemoth after the Department of Justice and FCC signed off on the mega-deal.
“This transaction is essential to sustaining strong local journalism in the communities we serve,” Nexstar founder and CEO Perry Sook said in a statement. “By bringing these two outstanding companies together, Nexstar will be a stronger, more dynamic enterprise — better positioned to deliver exceptional journalism and local programming with enhanced assets, capabilities, and talent. We are grateful to President Trump, Chairman Carr, and the DOJ for recognizing the dynamic forces shaping the media landscape and enabling this transaction to move forward.”
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Under the approval, Nexstar must divest within two years from TV stations in Denver, Colorado (KTVD); Indianapolis, Indiana (WTHR); New Haven, Connecticut (WCTX); Portsmouth, Virginia (WAVY), Slidell,
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