Nexstar in Advanced Talks to Acquire Tegna

Nexstar Media Group is in advanced negotiations to acquire Tegna, with Tegna's shares surging about 30% on the news while Nexstar's stock declined. Tegna is now valued at approximately $2.42 billion, slightly below earlier estimates. The deal could be finalized soon unless last-minute complications arise, and comes as expectations grow for looser U.S. media ownership regulations. Industry observers see this as part of a broader trend of consolidation in response to evolving consumer habits and increased streaming competition. Tegna previously attracted takeover interest, including a failed $8.6 billion bid blocked by regulatory concerns. Both companies have declined to comment on the ongoing talks.