---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-183034"
form_type: "8-K"
ticker: "NXST"
cik: "0001142417"
company_name: "NEXSTAR MEDIA GROUP, INC."
filed_at: "2025-08-19T23:59:59+00:00"
generated_at: "2026-05-17T11:20:10.377697+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Nexstar to acquire TEGNA for $22/share cash, $6.2B total value

## Summary
- Purchase price of $22.00 per share, a 31% premium to TEGNA's 30-day average stock price.
- Expected annual net synergies of ~$300M from revenue and operating expense reductions.
- Pro forma net leverage at ~4x at close, de-leveraging to current levels by 2028.
- Combined net revenue (L8Q annualized) of $8.1B, Adjusted EBITDA of $2.56B pre-synergies.
- Transaction unanimously approved by TEGNA Board; expected to close by H2 2026.

## SEC filing metadata
- accession: 0001193125-25-183034
- form_type: 8-K
- ticker: NXST
- cik: 0001142417
- company_name: NEXSTAR MEDIA GROUP, INC.
- filed_at: 2025-08-19T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1142417/000119312525183034/0001193125-25-183034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1142417/000119312525183034/d25979d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-183034
- JSON: https://secwatch.observer/filing/0001193125-25-183034.json
- Plain text: https://secwatch.observer/filing/0001193125-25-183034.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.