By Colorado Sun staff & wire report | The Colorado Sun
Nexstar Media Group is buying broadcast rival Tegna, which owns 9News in Denver, for $6.2 billion, in a deal that would help strengthen its local news offerings.
The transaction, if approved, will bring together two major players in U.S. television and the country’s local news landscape. Nexstar oversees more than 200 owned and partner stations in 116 markets nationwide today and also runs networks like The CW and NewsNation. Meanwhile, Tegna owns 64 news stations across 51 markets.
In Denver, Nexstar owns Fox31, and Tegna owns NBC affiliate 9News and its sister station KTVD. Nexstar also owns the CBS affiliate in Grand Junction KREX and the Fox station KXRM in Colorado Springs.
“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,” Nexstar chairman and CEO Perry Sook said in a statement Tuesday. “We believe Tegna represents the best option for Nexstar to act on this opportunity.”
When reports of the possible merger started to publish last week, 9News lead anchor Kyle Clark posted on social media about the possible sale. Clark, who has been a speaker at Colorado Sun events, did not say if he would be staying through the pending transition.
