Acquisition DealNexstar finally got its revolutionary deal across the line with an all-cash, $22 per share bid for TEGNA, which was unanimously approved by both boards.
Financial OutlookAnalyst recommends raising the price target on Nexstar from $225 to $250, which takes into account some uncertainty and the potential for required divestitures.
Market SynergiesThe combined entity will cover 80% of US households across 132 DMAs, driving a base-case synergy scenario of over 35% of TEGNA’s adjusted EBITDA.