Nexstar to acquire Tegna

[ABC 7 Denver 1889]

2 hours ago, JRyan said:

To me, it seems odd to be redacting ratings numbers.  Is that standard for these types of filings?

 

No. Which is why I suspect that they are dogsh...

[tyrannical bastard 4676]

After (trying) to watch WJW at 10pm, I can see why they're slipping in the ratings....maybe the whole "Cleveland's own" schtick is getting old....

Add in Nexstar's self-serving drivel coupled with the fumes that WJW has ran on for years, times have changed.

Your senior talent from the "old days" is basically Wayne Dawson (still on medical leave recovering from cancer), Stefani Schaefer, David Moss (on New Day Cleveland), Jack Shea, Lou Maglio, and newer additions from the 2000s like  Tracy McCool, Kenny Crumpton, Dave Nethers, Todd Meany and Scott Sabol.  Then throw in a few more veterans that joined in more recent years like Ed Gallek (and his wife Peggy) and Roosevelt Leftwich.

 

But the old regime has passed on and/or retired.  Some left because TV has become what it is today.  And for whatever reason, John Telich's bio is still up (he retired in 2022) along with those of Carl Monday and Tom Meyer...I cant' recall the last time either of them has been involved on TV.

 

Plus, your old ads that seemed like comfort food have been replaced by others that are probably just as tacky and overplayed with the usual suspects (lawyers, car dealers and third-rate furniture stores and home improvement "contractors")

 

And adding newscast after newscast over the years only stretches things thinner....

 

I still cringe when Nexstar makes the station fully theirs when they replace the parting gifts that Tribune gave them...their set and graphics, both of which were LONG overdue at the time...

Edited November 21, 2025 by tyrannical bastard
A few more names...

[nathannah 2792]

13 hours ago, tyrannical bastard said:

Plus, your old ads that seemed like comfort food have been replaced by others that are probably just as tacky and overplayed with the usual suspects (lawyers, car dealers and third-rate furniture stores and home improvement "contractors")

 

And adding newscast after newscast over the years only stretches things thinner....

 

I still cringe when Nexstar makes the station fully theirs when they replace the parting gifts that Tribune gave them...their set and graphics, both of which were LONG overdue at the time...

The crapification (there's another word) of television advertising, especially on the local side, has been swift in the last few years. If you go by television ads alone, we have a crisis of wasted energy from bad 80s insulation, old window glass that is a national crisis, and roofs ready to leak any moment, that can be fixed with no finance charges for six years and your bath can be fixed for one day (often now illustrated by false AI in a violation of every single ad code/consumer law in the state law library), along with SonoBello ads which just scream 'women, you are terrible, weigh too much and you need to freeze this fat off but if you need it removed, we don't know how to!' (love that one for being an ED trigger that can't be stopped by any ratings system). Meanwhile, things that used to be in ads (fast food specials and special hours) are now being reported on as news instead because it's cheaper to put out PR about it than film an ad about said changes with actual people...and that's what now makes up these thinner and thinner newscasts.

 

I wonder why old standby advertisers aren't doing commercials now...because your newsroom literally let them have your anchors do the commercials instead as 'overtime' with full knowledge that they are.

Edited November 21, 2025 by nathannah

[channel2 1042]

The endlessly copy-pasted passages in the paperwork got so grating and repetitive that I couldn't stand to read all of it. It wasn't like what Scripps and Gray sent to the FCC over their swap with regards to market dynamics, it was just the same thing over and over again with figures they may or may not have pulled out of their ass and the same find-and-replace writing.

[ColtFromGulfcoast 869]

Someone needs to do an independent investigation to find out where everyone ranks at. Like, there needs to be a third party who does this. 

[NowBergen 924]

7 minutes ago, channel2 said:

The endlessly copy-pasted passages in the paperwork got so grating and repetitive that I couldn't stand to read all of it. It wasn't like what Scripps and Gray sent to the FCC over their swap with regards to market dynamics, it was just the same thing over and over again with figures they may or may not have pulled out of their ass and the same find-and-replace writing.

As I said before, arrogance. Sook thinks he has this all approved already and took the lazy approach.  It makes it seem as a not very serious application.  Sadly, Carr isn't bright enough to see through it.

 

[tyrannical bastard 4676]

Basically, if you live in a Tegna/Nexstar market, you need to petition the FCC and let them know your objections.  Drag this process out as long as possible so it can be thoroughly investigated, docketed and hopefully sent to an administrative law judge for all of the misreprepresentstions it presents and any damage it causes to an already diminished media landscape in many markets across the country.

 

If Nexstar can't close the deal, then they have to cough up the breakup fee to Tegna which gives them another lifeline.  If they can't survive after that, let the market kill them off.

Edited November 21, 2025 by tyrannical bastard

[Recovering Producer 410]

1 hour ago, tyrannical bastard said:

Basically, if you live in a Tegna/Nexstar market, you need to petition the FCC and let them know your objections.  Drag this process out as long as possible so it can be thoroughly investigated, docketed and hopefully sent to an administrative law judge for all of the misreprepresentstions it presents and any damage it causes to an already diminished media landscape in many markets across the country.

 

If Nexstar can't close the deal, then they have to cough up the breakup fee to Tegna which gives them another lifeline.  If they can't survive after that, let the market kill them off.

 

Elections have consequences. And one of the consequences of the 2024 election is Brendan Carr serving as FCC Chair and the chapter of a certain project he wrote becoming reality. There may be optics of scruitny over this deal, but the reality is this is just a matter of how this merger gets approved, if there are minimal areas in which this government says it goes too far (and if there are divestures, expect them to be license only to spectrum speculators, sidecars, or godcasters with all non-license assets staying with Nexstar), and if ownership cap changes need to done legislatively or through rulemaking. 

 

TEGNA doesn't want to exist any more. It hasn't wanted to exist since Standard General offered $24/share in 2022. A $125 million breakup fee isn't going to reinvigorate TEGNA if this deal doesn't get regulatory approval. That's 2% of what TEGNA is valued at in this merger. TEGNA is, for all practical purposes, a zombie company with stockholders and executives who just want to get their money and peace out. They have made cuts and staff reductions with the intention of having a lean balance sheet for whoever wants to absorb them in one piece. A benevolent broadcasting company with billions in credit to purchase a large station group doesn't exist in 2025. 

[MidwestTV 1358]

4 hours ago, Recovering Producer said:

 

Elections have consequences. And one of the consequences of the 2024 election is Brendan Carr serving as FCC Chair and the chapter of a certain project he wrote becoming reality. There may be optics of scruitny over this deal, but the reality is this is just a matter of how this merger gets approved, if there are minimal areas in which this government says it goes too far (and if there are divestures, expect them to be license only to spectrum speculators, sidecars, or godcasters with all non-license assets staying with Nexstar), and if ownership cap changes need to done legislatively or through rulemaking. 

 

TEGNA doesn't want to exist any more. It hasn't wanted to exist since Standard General offered $24/share in 2022. A $125 million breakup fee isn't going to reinvigorate TEGNA if this deal doesn't get regulatory approval. That's 2% of what TEGNA is valued at in this merger. TEGNA is, for all practical purposes, a zombie company with stockholders and executives who just want to get their money and peace out. They have made cuts and staff reductions with the intention of having a lean balance sheet for whoever wants to absorb them in one piece. A benevolent broadcasting company with billions in credit to purchase a large station group doesn't exist in 2025. 

 

Put another way, they've been waiting 3 or 4 years longer than expected to get their golden parachutes to retirement and never having to do something ever again while the rest of the world burns.

Edited November 22, 2025 by MidwestTV

[DENDude 259]

With how poorly put together these documents seem to be, is there a chance this merger goes to an administrative law judge?

[GoldenShine_10 263]

19 minutes ago, DENDude said:

With how poorly put together these documents seem to be, is there a chance this merger goes to an administrative law judge?

 

Best case scenario. These documents are the worst I have ever seen. And if this fails, Nexstar becomes blacklisted as well in the industry.

[ColtFromGulfcoast 869]

I'll bet 75% of my sneaker collection (which I bet is just as nice as Perry Sook Jrs) that this ends up going to an ALJ. 

[mre29 1967]

8 hours ago, Recovering Producer said:

TEGNA doesn't want to exist any more. It hasn't wanted to exist since Standard General offered $24/share in 2022. A $125 million breakup fee isn't going to reinvigorate TEGNA if this deal doesn't get regulatory approval. That's 2% of what TEGNA is valued at in this merger. TEGNA is, for all practical purposes, a zombie company with stockholders and executives who just want to get their money and peace out. They have made cuts and staff reductions with the intention of having a lean balance sheet for whoever wants to absorb them in one piece. A benevolent broadcasting company with billions in credit to purchase a large station group doesn't exist in 2025. 

 

What Tegna (I refuse to put the name in all-caps) should have done was put their stations up for sale individually (well, without breaking up the duopolies) to maximize how much they sell for. Instead, they're taking the easy way out to reduce the amount of time and paperwork involved.

 

 

[tyrannical bastard 4676]

At this point, the entire industry seems like it is too far gone.  The best case scenario is to all let it burn and watch each station fail and have their license returned to the FCC. 

 

At that point, if the demand exists individual stations can be restarted under new licenses.

 

Perhaps if things actually get to that point, individual stations could be able to be saved at the 11th hour as going concerns.

[Recovering Producer 410]

3 hours ago, mre29 said:

 

What Tegna (I refuse to put the name in all-caps) should have done was put their stations up for sale individually (well, without breaking up the duopolies) to maximize how much they sell for. Instead, they're taking the easy way out to reduce the amount of time and paperwork involved.

 

 

It would be financial negligence and a shareholder lawsuit waiting to happen for a company that wants to stop existing decides to sell assets in pieces when a merger is possible and could achieve the same goal.

 

A piecemeal sale of every business asset, when the value goes into the billions, has massive and expensive financial and tax consequences for the seller who is trying to get the most money and a clean break.  
 

A merger structured as a stock sale can be done with a minimal tax burden for the seller. Individual station sales as assets would mean the money the company received from assets being sold would be taxed as corporate income.
 

This merger is also structured where Nexstar assumes TEGNA’s debt. Selling assets one piece at a time until they are all gone means debt service payments continue, eating up a big chunk of revenue from the individual asset sales. Once all the assets are sold, the remaining debts and other corporate liabilities are all that are left and good luck selling those! 

 

This is also why in past station group mergers station divestitures are structured as asset sales by the new company concurrent with closing of the merger, rather than a sale by the outgoing company. 
 

This all sucks. It’s bad for people and communities. It’s bad for people who will lose their jobs. But for people looking for golden parachutes, that doesn’t matter. They just want every penny possible and a clean break from financial responsibility of a dying company. 

[mre29 1967]

4 hours ago, Recovering Producer said:

It would be financial negligence and a shareholder lawsuit waiting to happen for a company that wants to stop existing decides to sell assets in pieces when a merger is possible and could achieve the same goal.

 

A piecemeal sale of every business asset, when the value goes into the billions, has massive and expensive financial and tax consequences for the seller who is trying to get the most money and a clean break.  
 

A merger structured as a stock sale can be done with a minimal tax burden for the seller. Individual station sales as assets would mean the money the company received from assets being sold would be taxed as corporate income.

 

Meh, feels like a loophole to me. But, then, I'm not an accountant or business person.

 

4 hours ago, Recovering Producer said:

This merger is also structured where Nexstar assumes TEGNA’s debt. Selling assets one piece at a time until they are all gone means debt service payments continue, eating up a big chunk of revenue from the individual asset sales. Once all the assets are sold, the remaining debts and other corporate liabilities are all that are left and good luck selling those! 

 

Okay, this is a good point I hadn't considered (for reasons indicated above). And Nexstar being saddled with more debt might not be a bad thing in the long run.

 

[GoldenShine_10 263]

22 hours ago, tyrannical bastard said:

Basically, if you live in a Tegna/Nexstar market, you need to petition the FCC and let them know your objections.  Drag this process out as long as possible so it can be thoroughly investigated, docketed and hopefully sent to an administrative law judge for all of the misreprepresentstions it presents and any damage it causes to an already diminished media landscape in many markets across the country.

 

If Nexstar can't close the deal, then they have to cough up the breakup fee to Tegna which gives them another lifeline.  If they can't survive after that, let the market kill them off.

 

And then who would buy Tegna? There's no realistic buyer most likely if the deal collapses.

[mre29 1967]

4 hours ago, GoldenShine_10 said:

And then who would buy Tegna? There's no realistic buyer most likely if the deal collapses.

 

If Tegna insists on all of the stations being kept together regardless of conflicts and FCC rules (or Tegna insists that only the buyer's stations are sold), then yeah, there really isn't anyone.

 

[ABC 7 Denver 1889]

On 11/21/2025 at 2:28 PM, tyrannical bastard said:

Basically, if you live in a Tegna/Nexstar market, you need to petition the FCC and let them know your objections.  Drag this process out as long as possible so it can be thoroughly investigated, docketed and hopefully sent to an administrative law judge for all of the misrepresentations it presents and any damage it causes to an already diminished media landscape in many markets across the country.

 

If Nexstar can't close the deal, then they have to cough up the breakup fee to Tegna which gives them another lifeline.  If they can't survive after that, let the market kill them off.

  

My AG has filed a suit for Colorado. I know he and his Political Director. So I can just comment directly.

 

KUSA is still Denver's juggernaut. So Nexstar would just torch the place as they have with KDVR|KWGN. 

[MidwestTV 1358]

14 hours ago, ABC 7 Denver said:

  

My AG has filed a suit for Colorado. I know he and his Political Director. So I can just comment directly.

 

KUSA is still Denver's juggernaut. So Nexstar would just torch the place as they have with KDVR|KWGN. 

 

I'd hardly say KDVR/KWGN has been "torched" when some of their shows pull in more impressions on A25-54 than KCNC and KMGH do total. There's a long over-held notion (in my opinion before people get salty) that Denver is KUSA followed by everyone else, when it's really KUSA and KDVR followed by everyone else.

[PTVNews 201]

On 11/20/2025 at 8:15 AM, tyrannical bastard said:

I'd like to know where Nexstar is getting these viewership numbers. 

 

I have a hard time believing that WOIO is the #1 station in Cleveland and that WJW is ranked #3.  Have things really gotten that bad in the post-Goddard era?

 

It looks like the ratings are an average of most of the day, not just newscast hours.

 

From a footnote on page 18 of the application to the FCC:

 

"Unless otherwise specified, ratings data provided in this Comprehensive Exhibit are based on the Sunday to Saturday, 7 AM to 1 AM daypart audience share from ratings averaged over October 2024 through September 2025."

[Recovering Producer 410]

POTUS shares thoughts on broadcast deregulation through an article about NewsMax’s opposition to changing ownership limits. And it is not good news for people who want to get this deal done.
 

(Although, the idea ABC and NBC are going to buy up more local stations if ownership regulations change doesn’t seem like a likely outcome to me) 

[JRyan 694]

21 hours ago, ABC 7 Denver said:

  

My AG has filed a suit for Colorado. I know he and his Political Director. So I can just comment directly.

 

KUSA is still Denver's juggernaut. So Nexstar would just torch the place as they have with KDVR|KWGN. 

 

Nexstar has clearly given priority to KDVR with KWGN treated as complimentary to the former.  Not just because KWGN's website is now merged with KDVR, but it is also because KDVR seems to be given more production resources.  Tribune treated each more on equal footing compared to Nexstar.  Overall, it's not a bad thing but only if one looks at KWGN individually.  Nexstar seems to be focused more on the overall success of both stations as a single unit with nominal branding differences versus whether each one has a strong identity.

 

Personally I'm not a fan of what has been done with KWGN under Nexstar.  I far prefer how LocalTV/Tribune (later just Tribune) managed KDVR/KWGN with having strong brands for each station.  But I also don't believe Nexstar would just nuke KUSA.  That said, Nexstar is dreaming if they think they can lawfully pull off owning KDVR/KWGN as well as KUSA/KTVD.

[AmericanErrorist 267]

49 minutes ago, Recovering Producer said:

POTUS shares thoughts on broadcast deregulation through an article about NewsMax’s opposition to changing ownership limits. And it is not good news for people who want to get this deal done.
 

(Although, the idea ABC and NBC are going to buy up more local stations if ownership regulations change doesn’t seem like a likely outcome to me) 

This means that the Nexstar deal will be done with a whole bunch of waivers, both plausible and non, daring opposed parties to try and stop it in the courts.

[MidwestTV 1358]

20 minutes ago, JRyan said:

 I far prefer how LocalTV/Tribune (later just Tribune) managed KDVR/KWGN with having strong brands for each station. 

 

But I also don't believe Nexstar would just nuke KUSA.  

 

KWGN, to it's credit, does run an independent morning show that broadcasts to the whole state. It's not a retran of KDVR's morning show whatsoever, though they do share talent. Also the only 7 pm broadcast in the state.