In a major local television group consolidation move, Nexstar Media Group of Texas has reached an agreement to acquire a rival, Virginia-based Tegna, in a $22 per share cash transaction valued at $6.2 billion. The boards of both Nexstar and Tegna unanimously signed off on the deal, which is expected to close by the end of next year subject to FCC regulatory approval. The price includes Tegna debt and estimated transaction expenses and fees. Nexstar has more than 200 owned or partner stations while Tegna has 64. As a result of the consolidation, the combined company will have TV stations in nine of the top 10 U.S. markets. Continue reading Nexstar to Acquire Tegna in $6.2 Billion TV Consolidation Deal

At NAB 2019 in Las Vegas, a coalition of U.S. broadcasters announced that the new TV standard, ATSC 3.0, will roll out to 40 markets by the end of 2020. The capabilities of ATSC 3.0, which is based on an IP (Internet Protocol) network, include 4K, HDR and over-the-air mobile reception of TV content. TVNewsCheck contributing editor Glen Dickson, who moderated a panel of broadcasters and others involved with the advanced TV standard, noted that the announcement is “a big boost” to ATSC 3.0’s fortunes. Continue reading TV Broadcasters and Set Manufacturers Promote ATSC 3.0