TV broadcaster Sinclair said to seek merger with rival Tegna
The broadcaster, based in Hunt Valley, Maryland, has proposed a deal that values Tegna at $25 to $30 a share, the Wall Street Journal reported earlier, citing people familiar with the matter. Tegna has been engaged in advanced merger talks with Nexstar Group Inc., another major station owner.
Sinclair announced last week that it's undertaking a strategic review that could result in sale or breakup of the company. Sinclair and Tegna declined to comment.
Station owners are reacting to legal and regulatory changes that may facilitate mergers once considered unlikely. The Federal Communications Commission is rethinking a cap on how large station owners can become. And in July, an appeals court overturned the so-called "top four" rule, which bars a station owner from possessing two of the four top stations in a single market.
Shares of Tysons, Virginia-based Tegna, which has 64 stations, fell 1.7% to $20.18 Monday in New York. Sinclair, which has 178 stations, fell 3% to $13.76. Irving, Texas-based Nexstar, with more than 200 owned or partner stations in the US, was little changed at $206.38.
Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
25 minutes ago
- Yahoo
INTX Partners with AndDone and Imperial PFS (IPFS) to Launch Embedded Digital Payments and Premium Finance Integration for Seamless Payments and Financing
AUSTIN, Texas, August 19, 2025--(BUSINESS WIRE)--INTX, a provider of end-to-end core P&C insurance management systems, has partnered with AndDone, a digital payments platform, and Imperial PFS® (IPFS®), a leader in premium financing, to bring embedded payments and financing capabilities directly into the INTX system. The integration enables carriers, agents, and MGAs to offer insured customers a seamless experience with instant online payment and financing options, all within their existing workflow. "This integration reflects our core mission at INTX, to simplify and modernize the entire insurance lifecycle through powerful, intuitive technology," said Robert Lewis, CEO of INTX. "By embedding payments and premium financing directly into the INTX platform, we're removing complexity for our clients and delivering a faster, smarter experience for the entire distribution chain — from carriers to insureds." The partnership reflects a shared commitment to improving efficiency, enhancing customer satisfaction, and building tools for the insurance industry that are as applicable today as they will be in the future. AndDone will power the embedded digital payments functionality, enabling fast and secure transactions. IPFS will offer a premium financing option, allowing insured customers to pay over time. "At IPFS, we simplify the premium finance experience, supporting our clients and partners with solutions designed with their unique needs in mind," said Rick Franklin, Vice President of Business Development at IPFS. "We're proud to work alongside INTX and AndDone to deliver a seamless payment journey for agents and insureds alike." About INTXINTX is an end-to-end core P&C insurance management system provider based in Austin, Texas, born from a leading policy administration provider across Europe. INTX provides property and casualty insurance transactional systems of record that support the entire insurance life cycle for specialty carriers, MGAs, fronting insurers, reinsurers, and captives. INTX is a highly configurable system, supporting multiple currencies, languages, regulatory and reserving environments, all with zero implementation cost. For more information on INTX, please visit About IPFSIPFS is a leading provider of premium finance and payment solutions in the insurance industry. With a legacy of innovation and service, IPFS delivers flexible financing options and a powerful digital platform that simplifies the insurance premium process. Through its One Platform. One Partner approach, IPFS combines advanced technology with personalized support to help agents and insureds manage payments with greater ease, efficiency, and control. Learn more at About AndDoneAndDone simplifies payment collection for insurance agents, MGAs, and carriers by embedding automated workflows directly into existing systems. The platform reduces manual processes, accelerates cash flow, and offers real-time payment visibility, intuitive dashboards, and flexible billing options. By streamlining operations, AndDone helps insurance professionals deliver a more efficient and modern customer experience. Learn more at View source version on Contacts CINDI GOODSELLVICE PRESIDENTcgoodsell@ 646-502-3507 work
Los Angeles Times
27 minutes ago
- Los Angeles Times
Nexstar agrees to acquire Tegna in $6.8 billion TV station group deal
Nexstar Media Group, the largest TV station ownership group in the U.S., has agreed to acquire Tegna Inc.'s 64 broadcast outlets, the companies announced Tuesday. The deal will be the first major test of the TV station ownership rules under President Trump's Federal Communications Commission. FCC Chairman Brendan Carr has called the current rules arcane and has indicated he's open to change. The Irving, TX-based Nexstar, which owns Los Angeles outlet KTLA, will pay $22 a share for Tegna in a deal valued at $6.2 billion. The offer is 30% over the 30-day average of Tegna's closing stock price on Aug. 8. Nexstar has more than 200 stations in 116 markets, although some of are owned through partnerships. The company also owns NewsNation, the cable news channel launched in 2020, and a majority stake in the CW Network. Tegna currently owns TV stations in 51 markets, including KFMB in San Diego and KXTV in Sacramento. The combined companies would have total 265 stations reaching 80% in the U.S. Broadcasters have asked that the FCC lift the current ownership cap that limits owners to coverage of 39% of the country so they can consolidate and achieve the scale needed to compete with tech firms that don't face the same type of regulatory restrictions. The ownership cap was last revised upward in the pre-streaming era of 2004. The FCC rules also limit the number of stations an owner can have in a single market. '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 Big Tech and legacy Big Media companies that have unchecked reach and vast financial resources,' Nexstar Chairman Perry Sook said in a statement. TV station owners are looking for relief as they have been losing audience over the last decade due to consumers migrating to streaming platforms. While TV ratings have slumped, network TV affiliates draw massive audiences for NFL games that enable them to command high prices for commercials. Local stations also prosper during presidential and mid-term election years when they see an influx of political advertising revenue.
Business Wire
27 minutes ago
- Business Wire
Western Asset Premier Bond Fund (NYSE: WEA) Announces Portfolio Management Team Update
NEW YORK--(BUSINESS WIRE)--Effective August 19, 2025, the named portfolio management team responsible for the day-to-day oversight of Western Asset Premier Bond Fund (the 'Fund') is as follows: Chris Kilpatrick Ryan Brist Walter Kilcullen Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling shares of the Fund. For more information about the Fund, please call Fund Investor Services: 1-888-777-0102, or consult the Fund's website at The information contained on the Fund's web site is not part of this press release. Hard copies of the Fund's complete audited financial statements are available free of charge upon request. The Fund's shares are traded on the New York Stock Exchange. Similar to stocks, Fund share prices will fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Shares of closed-end funds often trade at a discount to their net asset value, and can increase an investor's risk of loss. All investments are subject to risk, including the risk of loss. About Western Asset Western Asset is one of the world's leading fixed-income managers with 50 years of experience and $239 billion in assets under management (AUM) as of July 31, 2025. With a focus on long-term fundamental value investing that employs a top-down and bottom-up approach, the firm has nine offices around the globe and deep experience across the range of fixed income sectors. Founded in 1971, Western Asset has been recognized for delivering superior levels of client service alongside its approach emphasizing team management and intensive proprietary research, supported by robust risk management. To learn more about Western Asset, please visit Western Asset is an independent specialist investment manager of Franklin Templeton. Western Asset is an independent specialist investment manager of Franklin Templeton. About Franklin Templeton Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and $1.62 trillion in assets under management as of July 31, 2025. For more information, please visit and follow us on LinkedIn, X and Facebook. Category: Fund Announcement Source: Franklin Resources, Inc. Source: Legg Mason Closed End Funds
