Tysons company Tegna completes $740 million deal for 11 TV stations
Tysons-based Tegna Inc. has completed its $740 million cash acquisition of 11 television stations from Texas-based Nexstar Media Group.
Tegna said the deal adds complementary markets to its existing network affiliates, including four stations in election battleground states.
The 11 stations were among 19 divested by Nexstar for a total of $1.32 billion to meet federal antitrust requirements as it acquires Chicago-based Tribune Media for $7.2 billion.
The Tribune Media deal will make Nexstar the largest TV station company in the U.S., with 197 stations in 115 markets.
In addition to the 11 stations sold to Tegna, Nexstar sold eight stations formerly owned by Tribune Media — including WTVR in Richmond and WTKR and WGNT in Norfolk — to E.W. Scripps Co. for $580 million this week.
Tegna’s new stations include:
WTIC/WCCT — FOX/CW affiliates in Hartford-New Haven, Connecticut
WPMT — FOX affiliate in Harrisburg-Lancaster-Lebanon-York, Pennsylvania
WATN/WLMT — ABC/CW affiliates in Memphis, Tennessee
WNEP — ABC affiliate in Wilkes Barre-Scranton, Pennsylvania
WOI/KCWI — ABC/CW affiliates in Des Moines-Ames, Iowa
WZDX — FOX affiliate in Huntsville-Decatur-Florence, Alabama
WQAD — ABC affiliate in Davenport, Iowa and Rock Island-Moline, Illinois
KFSM — CBS affiliate in Ft. Smith-Fayetteville-Springdale-Rogers, Arkansas
Tegna now owns or operates 62 television stations in 51 markets.