Core Insights - Nexstar is focusing on local media as a lucrative opportunity, aiming to build a dominant position in this space, which is often overlooked compared to national media [2][4] - The company announced a $6.2 billion acquisition of Tegna, which would significantly increase its control over local media, owning 265 stations across 44 states and the District of Columbia, covering 80% of U.S. TV households [3][4] - There is a potential easing of ownership restrictions by the FCC, which could allow Nexstar to expand its influence in local broadcasting [4][5] Company Strategy - Nexstar emphasizes the importance of local connections with viewers and advertisers, contrasting its diversified revenue base with the concentrated nature of national media [2][6] - The company has a history of acquisitions, including Tribune Media for $7.2 billion in 2019 and Media General for $4.6 billion in 2017, indicating a strategy of growth through consolidation [7] - The CEO believes that the future of local broadcasting will see further consolidation, with only a few major players remaining, highlighting the need for strong companies to compete against big tech [8]