Nexstar beat out rival Sinclair, which was offering between $25 and $30 per share, significantly above Nexstar's winning bid.

A Tyler-based news station and its parent company will be acquired in a media merger, according to reports.  Nexstar Media Group announced Tuesday that it will acquire TEGNA Inc. in an all-cash transaction valued at $6.

Nexstar Media Group, which owns and operates WTTV (CBS 4) and WXIN (FOX 59), announced on Aug. 19 that it had entered into an agreement to acquire TEGNA, the parent company of WTHR (NBC 13). This means three Indianapolis-based television news organizations will be owned and operated by one company.

U.S. television station owner Sinclair has made an offer to merge its broadcast TV business with smaller rival Tegna , which is in advanced talks on a potential sale to Nexstar Media Group , a person familiar with the talks told Reuters on Monday.

Shares of broadcasting and digital media company TEGNA (NYSE:TGNA) jumped 4.5% in the morning session after it announced a definitive agreement to be acquired by Nexstar Media Group (Nasdaq: NXST) in an all-cash deal.

Nexstar says its $6.2 billion takeover of Tegna is expected to close in the second half of 2026 — timing that would align with the lucrative wave of political ads during the midterm elections. But that plan still depends on Tegna shareholders, who may yet consider Sinclair’s competing offer.

The $6.2 billion cash transaction would expand Nexstar’s station group to 265 outlets nationwide, including a bigger foothold in Texas.