The $4.6 billion merger between Irving-based Nexstar Broadcasting and Virginia-based Media General is complete, and it has created the second-largest television broadcast company in the nation.
The Dallas Business Journal reported that the new company, Nexstar Media Group, will trail only Tribune Media in size.
The new company will be traded on the Nasdaq under the ticker symbol “NXST,” the Business Journal said.
Nexstar will reach the legal-allowable 39 percent of households in the U.S. To reach that level, the company finalized the divestiture of 13 television stations for $548 million, the Business Journal said.
Chairman, CEO, and President Perry Sook said the broadcaster would be able to create news bureaus in more state capitals that any other company.
“Nester Media Group will produce over 3,500 hours a week of local news for medium and small markets while employing almost 10,000 people,” Sook said in a statement.
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Irving-based Nexstar Media has acquired The Hill, one of America's leading political digital media platforms, for $130 million. The Hill attracted 48 million average monthly users and 2.2 billion total pageviews in 2020, according to Comscore. It also had 914 million video views on Twitter.
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