---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-268039"
form_type: "8-K"
ticker: "NXST"
cik: "0001142417"
company_name: "NEXSTAR MEDIA GROUP, INC."
filed_at: "2025-11-06T23:59:59+00:00"
generated_at: "2026-05-16T23:22:25.248560+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Nexstar to acquire TEGNA for $6.2B; Q3 revenue $1.20B, adjusted EBITDA $358M

## Summary
- Definitive agreement to acquire TEGNA Inc. for $6.2B; expected close second half 2026, subject to regulatory approvals.
- Q3 2025 net revenue $1.20B, down 12.3% YoY due to lower political advertising.
- Net income $65M, down 63.9% YoY; adjusted EBITDA $358M, down 29.8%.
- Distribution revenue $709M (-1.4%); advertising revenue $476M (-23.5%) due to $145M drop in political.
- Adjusted free cash flow $166M, down 49.2%; debt repaid $25M, dividends $56M.

## SEC filing metadata
- accession: 0001193125-25-268039
- form_type: 8-K
- ticker: NXST
- cik: 0001142417
- company_name: NEXSTAR MEDIA GROUP, INC.
- filed_at: 2025-11-06T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1142417/000119312525268039/0001193125-25-268039-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1142417/000119312525268039/nxst-20251106.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-268039
- JSON: https://secwatch.observer/filing/0001193125-25-268039.json
- Plain text: https://secwatch.observer/filing/0001193125-25-268039.txt

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