Just a couple weeks after two Huntsville television stations came under one umbrella, the city’s other two commercial TV stations will be under one owner.
Nexstar Media Group, the parent of WHNT-TV Channel 19, is purchasing TEGNA, the owner of WZDX Fox 54, the two companies announced today.
“The new company will be better able to serve communities by ensuring the long-term vitality of local news and programming from trusted local sources and preserving the diversity of local voice and opinion,” a press release from Nexstar said.
On Aug. 8, Gray Media, the parent of WAFF Channel 48, announced it had bought several stations, including WAAY Channel 31, from Allen Media Group.
Subject to regulatory approvals, Nexstar will acquire all outstanding shares of TEGNA for $22 per share in a cash transaction valued at $6.2 billion.
Nexstar will be able to provide advertisers with an even greater variety of competitive local and national broadcast and digital advertising solutions to serve brands and consumers more effectively, according to the news release.
“The initiatives being pursued by the Trump administration offer local broadcasters the opportunity to expand reach, level the playing field, and compete more effectively with the Big Tech and legacy Big Media companies that have unchecked reach and vast financial resources,” said Nexstar Chairman and CEO Perry A. Sook. “We believe TEGNA represents the best option for Nexstar to act on this opportunity. TEGNA is a premier operator with high quality local television stations primarily in the top 75 DMAs.
“We and TEGNA are similarly dedicated to providing communities of all sizes with the best programming and fact-based local journalism along with innovative digital products and marketing solutions for local viewers and advertisers.”
Courtesy of 256 Today
