AcquisitionsAug 7, 2026, 01:16 PM
Nexstar Completes TEGNA Acquisition; Q2 EPS $3.65, Revenue $1.99B
AI Summary
Nexstar Media Group completed its acquisition of TEGNA Inc. on March 19, 2026, significantly expanding its operational and geographic footprint. This transformative deal contributed to a substantial increase in net revenue to $1.99 billion and net income to $120 million for the second quarter of 2026, with basic EPS reaching $3.65. However, the integration of the acquired companies faces challenges due to a preliminary injunction issued by a U.S. District Court on April 17, 2026, which Nexstar is appealing.
Key Highlights
- Completed the acquisition of TEGNA Inc. on March 19, 2026, adding 64 full power stations.
- U.S. District Court issued a preliminary injunction on April 17, 2026, prohibiting further integration of the companies.
- Net revenue for Q2 2026 increased to $1.99 billion, up from $1.23 billion in Q2 2025.
- Net income attributable to Nexstar Media Group, Inc. for Q2 2026 rose to $120 million from $97 million in Q2 2025.
- Basic earnings per share (EPS) for Q2 2026 grew to $3.65, compared to $3.09 in Q2 2025.
- Total assets surged to $17.72 billion as of June 30, 2026, from $10.85 billion as of December 31, 2025.
- Cash payments for acquisitions, net of cash acquired, totaled $3.34 billion for the six months ended June 30, 2026.
- Declared common stock dividends of $1.86 per share for the three months ended June 30, 2026.
Price Impact
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