Nexstar Finalizes Acquisition and Delisting of TEGNA Shares

TEGNA ( (TGNA) ) has issued an announcement.

On March 19, 2026, Nexstar completed its acquisition of TEGNA, converting each outstanding share of TEGNA common stock into the right to receive $22.00 in cash and canceling those shares, which will be delisted from the New York Stock Exchange and deregistered with the U.S. Securities and Exchange Commission. As part of the deal, earlier TEGNA equity awards were cashed out while more recent awards were converted into Nexstar restricted stock units, TEGNA’s board and senior officers were replaced by Nexstar appointees, and TEGNA’s charter, bylaws and 5.000% senior notes due 2029 were moved toward Nexstar’s control through a tender offer and consent process that will relax restrictive covenants if it settles as planned.

The most recent analyst rating on (TGNA) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on TEGNA stock, see the TGNA Stock Forecast page.

Spark’s Take on TGNA Stock

According to Spark, TipRanks’ AI Analyst, TGNA is a Neutral.

The score is held back primarily by weakening financial performance (lower revenue, compressed margins, sharply reduced earnings and cash flow, and balance-sheet data uncertainty). Offsetting this, technicals are constructive with strong trend support and positive momentum, and valuation is supportive with a low P/E and a moderate dividend yield.

To see Spark’s full report on TGNA stock, click here.

More about TEGNA

TEGNA is a U.S. broadcast and digital media company whose primary business is owning and operating television stations and related media assets. The company focuses on local news, sports and entertainment content distribution, competing in the highly consolidated broadcast television and media sector.

Average Trading Volume: 1,773,593

Technical Sentiment Signal: Strong Buy

Current Market Cap: $3.24B

See more data about TGNA stock on TipRanks’ Stock Analysis page.