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AI brief of an SEC Form 8-K · Nexstar Media (NXST)

Nexstar closes acquisition of TEGNA for $22.00 per share in cash

Neutral Impact 5 of 5 m&a Written later

On March 19, 2026, Nexstar completed its acquisition of TEGNA under the August 18, 2025 merger agreement, after FCC and DOJ approval. To fund part of the cash consideration, NMI took on new debt, including a bridge facility of up to $2,390 million and term loans totaling $2,900 million, and the company agreed to FCC commitments that include divesting six television stations within two years.

Key points

  • TEGNA shareholders receive $22.00 per share in cash, under the merger agreement signed August 18, 2025
  • NMI established a bridge facility of up to $2,390 million, maturing on the first anniversary of the closing date
  • Term loans of $150 million (Term A) and $2,750 million (Term B) were drawn, with $200 million of bridge borrowings also used for cash consideration, TEGNA debt repayment and transaction expenses
  • FCC commitments include divesting six television stations within two years, subject to a waiver condition

The filing

CompanyNexstar Media (NXST)
Form8-K, current report
Filed with the SECMar 20, 2026, 8:05 AM ET
Accession number0001142417-26-000004

Items reported: 1.01 Material Definitive Agreement2.01 Acquisition or Disposition Completed2.03 New Direct Financial Obligation7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:58 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 20, 2026.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.