secwatch.observer — SEC 8-K summary
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Issuer:     NEXSTAR MEDIA GROUP, INC. (NXST)
CIK:        0001142417
Form:       8-K
Filed at:   2025-08-19T23:59:59+00:00
Accession:  0001193125-25-183034
Event type: m_and_a
Sentiment:  positive
Materiality: 1.00
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1142417/000119312525183034/0001193125-25-183034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1142417/000119312525183034/d25979d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-183034

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer