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Nexstar finalizes TEGNA acquisition, reshaping US media ownership

A media giant grows even larger. Nexstar's TEGNA takeover shifts market indices and cements its control over local TV—here's what changes.

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The image shows a graph on a white background with text that reads "S&P 500 Index Approved by...
The image shows a graph on a white background with text that reads "S&P 500 Index Approved by Month". The graph displays the index's performance over a period of time, with the x-axis representing the months and the y-axis indicating the index. The graph shows a steady increase in the index over the course of the month, indicating that the index has been steadily increasing over the past few months.

Nexstar finalizes TEGNA acquisition, reshaping US media ownership

The Vita Coco Company Inc. (NASD: COCO) will replace TEGNA Inc. (NYSE: TGNA) in the S&P SmallCap 600 effective prior to the opening of trading on Wednesday, March 25. S&P MidCap 400 constituent Nexstar Media Group Inc. (NASD: NXST) has acquired TEGNA in a deal that closed today, March 20.

Following is a summary of the change that will take place prior to the open of trading on the effective date:

| Effective Date | Index Name | Action | Company Name | Ticker | GICS Sector | |----------------|-----------------|----------|-----------------------|--------|------------------| | March 25, 2026 | S&P SmallCap 600 | Addition | The Vita Coco Company | COCO | Consumer Staples| | March 25, 2026 | S&P SmallCap 600 | Deletion | TEGNA | TGNA | Communication Services|

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