Nexstar Media Group, which owns Lafayette TV station KLFY, has entered into a deal to buy rival company Tegna.
The deal, if approved by the Federal Communications Commission, is worth $6.2 billion, multiple outlets reported this morning. Tegna has 64 stations in 51 markets and is the owner of WWL in New Orleans along with WUPL.
It’s the latest move in the television news corporate world after Gray Media entered into deals to acquire several stations, including Lafayette stations KATC and KADN.
Nexstar, which currently owns WGNO in New Orleans and other stations around the state, said Tuesday that the deal will also help it give advertisers a bigger variety of local and national broadcast and digital advertising options.
“The initiatives being pursued by the Trump administration offer local broadcasters the opportunity to expand reach, level the playing field, and compete more effectively with the Big Tech and legacy Big Media companies that have unchecked reach and vast financial resources," Nexstar Chairman and CEO Perry Sook said. “We believe Tegna represents the best option for Nexstar to act on this opportunity.”
Tegna dates back to 2015 when it was formed following Gannett splintering into two publicly traded companies, reports indicate.