Archive · 7 Nov 2025
Nexstar CEO Confident in Tegna Deal Close Amid Soft Q3, Regulatory Scrutiny
Nexstar, a big TV company, is trying to buy another company called Tegna for $6.2 billion.
The boss of Nexstar, Perry Sook, says he thinks the deal will be finished on time, around 2026.
He believes that by joining together, they will become a very strong company that can help local TV news survive.
However, Nexstar's recent money report was not as good as people expected, and their stock price dropped.
Mr. Sook thinks that having fewer, bigger TV companies is important for keeping local news strong, and he is hopeful that the government will allow the deal to happen.
He also mentioned that some of their TV stations reach many people, more than the rules currently allow for one company, but he thinks new rules will help.
The company is also involved with The CW, a TV network, which is losing less money than before.
Nexstar CEO Perry Sook is confident the $6.2 billion acquisition of Tegna will close on schedule by the second half of 2026.
Nexstar's Q3 revenue was $1.2 billion, a 12% decrease from the previous year, with earnings per share at $2.14, falling short of forecasts.
Nexstar shares fell 7% following the earnings report but remain up 15% year-to-date.
The company is progressing with regulatory engagement and Tegna shareholder approval for the acquisition.
Sook believes industry consolidation and deregulation are necessary to preserve local journalism and the future of the broadcast sector.
- Who
- Nexstar Media Group CEO Perry Sook
- What
- Expressed confidence in the timely closing of the $6.2 billion Tegna acquisition and discussed Nexstar's third-quarter financial performance and industry outlook.
- When
- During Nexstar's third-quarter earnings call.
- Where
- Nexstar Media Group (company based in Dallas market mentioned)
- Why
- To update on the Tegna acquisition progress, address financial results, and advocate for industry consolidation and deregulation.
Pro-Deregulation/Consolidation
Concerns about Consolidation and Regulatory Hurdles
Industry Health and Future
Pro-Deregulation/Consolidation
Nexstar CEO Perry Sook believes consolidation and deregulation are essential for the survival and strength of the local broadcast sector, aiming for Nexstar to become a model for the industry's future and to preserve local journalism.
Concerns about Consolidation and Regulatory Hurdles
The acquisition would result in Nexstar owning stations reaching 80% of the U.S., significantly exceeding current federal limits and raising questions about the impact on the rest of the industry and competition.
Regulatory Environment
Pro-Deregulation/Consolidation
Sook expressed optimism due to favorable rulings like the Eighth Circuit vacating the 'top four' ban and praised the Trump administration and FCC Chairman Brendan Carr for their deregulatory stance, believing such actions are necessary for businesses to compete.
Concerns about Consolidation and Regulatory Hurdles
The FCC is set to review ownership caps in 2026, and the outcome of the upcoming mid-term elections could potentially impact the deal if Democrats regain control of Congress, suggesting regulatory uncertainties remain.
- Nexstar CEO
- Perry Sook
- Target Acquisition
- Tegna
- Deal Value
- $6.2 billion
- Expected Close Date
- Second half of 2026
- Q3 Revenue
- $1.2 billion
- Q3 Revenue Change
- -12% year-over-year
- Q3 Earnings Per Share
- $2.14
- Stock Price Reaction
- Fell 7% post-earnings