Nexstar wants to buy Tegna

[Jim S.]

This is completely inexcusable for those of us in the Scranton market!

Nexstar agrees to buy Tegna for $6.2 billion, a massive consolidation of local TV stations | CNN Business

lite.cnn.com

 

[moonwink]

In my lifetime, bigger has never proved to be better. The lack of competition always results in higher prices and often less service because with no choices, where are you going to go? Gotcha!

 

[zippyfrog]

This is surprising to me. I know that there is a limit of number of stations a single entity can own. Didn't Nexstar or Sinclair or someone need to change a merger to stay under the threshold? I do note in the article that there is a 39% rule that looks it would be going away? Very interesting indeed.

 

[moonwink]

It's hitting me right here in river city also. This can't be good for consumers.

Nexstar Media Group buying Tegna in deal worth $6.2 billion

3 channels in St. Louis will be owned by the same corporation (Fox & NBC). KTVI and KPLR share the same newsroom already. I suppose KSDK will lose its independence after the merger also.

Irving, TX-based Nexstar, which owns KTVI (Channel 2) and KPLR (Channel 11), will pay $22 a share for Tegna, which owns KSDK (Channel 5), in a deal valued at $6.2 billion. The offer is 30% over the 30-day average of Tegna's closing stock price on Aug. 8.

 

[navychop]

Libraries

 

[FTA4PA]

This is completely inexcusable for those of us in the Scranton market!

Nexstar agrees to buy Tegna for $6.2 billion, a massive consolidation of local TV stations | CNN Business

lite.cnn.com

Well, this sucks! Can't see this as being a good thing for us like they are touting it to be.

 

[dweber]

In the Columbus Ohio market Sinclair owns ABC WSYX and Fox WTTE and has a local marketing agreement with Columbus CW WWHO station. Sinclair ABC 6 and Fox 28 share the same news team. Nexstar currently owns NBC WCMH and will own CBS WBNS. If the sale goes through I suspect that NBC 4 and CBS 10 will also share the same news team.


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[FTA4PA]

Nexstar already has both NBC and CBS here in central PA and the local news is a carbon copy on both stations.

Now they are wanting to buy up our ABC too. Will we then have three identical versions of local news?

If so, that seems fair & balanced and in the public interest... not!

 

[Howard Simmons]

Nexstar already has both NBC and CBS here in central PA and the local news is a carbon copy on both stations.

Now they are wanting to buy up our ABC too. Will we then have three identical versions of local news?

If so, that seems fair & balanced and in the public interest... not!