TEGNA Inc. (TGNA)

TEGNA Inc. was a television broadcasting and digital media company headquartered in Tysons, Virginia. It traced its corporate lineage to Gannett Co., Inc., which was founded in 1906 and grew into one of the largest U.S. newspaper publishers. In June 2015 Gannett separated its broadcasting and digital businesses from its publishing operations, and the broadcasting company took the TEGNA name while the publishing company kept the Gannett name.

After the separation, TEGNA concentrated on local television. It owned or operated stations in more than 50 markets, many affiliated with major networks, and produced local news and other programming. Its revenue came mainly from advertising and from retransmission consent fees paid by cable, satellite and streaming distributors.

TEGNA also operated a group of national multicast networks, including True Crime Network, Quest and Twist, and a studio producing true crime podcasts and original programs. Its marketing business, TEGNA Marketing Solutions, offered advertisers services across television, digital and streaming platforms, including the Premion over-the-top advertising network.

The company's stock traded on the New York Stock Exchange under the symbol TGNA. Its strategy during the 2010s and 2020s included station acquisitions and a focus on political advertising cycles. A proposed 2022 merger with Standard General, which had been agreed at $24 per share, was terminated in 2023 after regulatory delays.

In August 2025, Nexstar Media Group, the largest owner of local television stations in the United States, agreed to acquire TEGNA for $22.00 per share in cash. The combination required approvals from the Federal Communications Commission and antitrust authorities and was linked to changes in broadcast ownership rules.

After receiving regulatory approval, Nexstar completed the acquisition on March 19, 2026. Each TEGNA share was converted into the right to receive $22.00 in cash, and TEGNA common stock was delisted from the NYSE and deregistered with the SEC. Nexstar appointees replaced TEGNA's board and senior officers, equity awards were cashed out or converted, and Nexstar pursued a tender offer and consent solicitation for TEGNA's 5.000% senior notes due 2029. A Form 25 was filed on March 20, 2026.

Because the acquisition was an all-cash merger, former TEGNA shareholders no longer hold securities in the company and received payment through the paying agent. The deal combined two of the largest groups of local television stations in the United States, and the regulatory process drew attention because of national ownership limits. Under SEC rules, the Form 25 became effective ten days after filing.