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TEGNA , the company formerly known as Gannett, is picking up 11 stations across eight markets for $740 million from Nexstar Media Group. Jenner & Block lawyers served as co-counsel to the transaction.
The stations that TEGNA will acquire include ABC, FOX and CW affiliates across the Midwest and East Coast, eight of which are Big Four affiliates. According to TEGNA’s press release, the proposed transaction will add complementary markets to TEGNA’s existing portfolio of top network affiliates, including four affiliates in presidential spending battleground states.
The Jenner & Block team was led by Partners John Flynn and Edward L. Prokop and included Special Counsel David M. Didion and Associates Sharon K. Moraes, Amy Inagaki, Christine N. Sanquist, Joshua T. Davids, Sarah E. Stewart and David Heckman.
The transaction was reported on by media outlets including Radio & Television Business Report, Multichannel News, TalkBusiness.net, Street Insider, The Courier-Express and The Tullahoma News and Guardian.