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JCIR handles Nexstar Media Group as it plans a $6.2B merger with Tegna to create a local TV broadcast powerhouse with 265 stations in 44 states reaching 80 percent of US households.
The $22 per share offer represents a 31 percent premium to Tegna’s 30-day closing price ending Aug. 8.
Nexstar CEO Perry Sook cited President Trump’s plan to deregulate the local broadcast sector as the driving force behind the deal.
“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,” he said.
Nexstar contends the merged company will be better able to serve communities by ensuring the long-term vitality of local news and programming from trusted local sources and preserving the diversity of local voice and opinion.
Mike Steib, Tegna chief, said joining with Nexstar “will expand news coverage to serve more communities, across more screens, and ultimately secure the future of local news for generations to come.”
The Wall Street Journal reports the Sinclair Broadcast Group, which on Aug. 11 announced a strategic review of its operations, plans to offer a deal for Tegna.
JCIR founder/president Joe Jaffoni and managing director Jennifer Newman represent Nexstar.
Prosek Partners represents Nuveen as it acquires London-based Schroders, which relies on Brunswick Group for PR counsel, in a $13.5B deal.
Qualcomm has recruited Brett Simpson for the senior VP-IR slot at the San Diego-based wireless technology company.
Reevemark handles Eddie Bauer LLC as the retailer inks a Chapter 11 restructuring pact that has it conducting liquidation sales at its US and Canadian stores while working to find a buyer for either all of or part of the chain.
Prosek Partners hires FTI Consulting vet David Roady to build and deepen its relationships in the corporate sector, particularly with chief communications officers and C-suite executives.
Kekst CNC handles Crestview Partners as the private equity firm acquires Tailwind Hospitality, operator of food, beverage and retail concessions in non-hub and regional airports, from Palladin Consumer Retail Partners.
