Tegna Soars 29.78% on $260M Surge as Merger Buzz Lifts Shares to 387th U.S. Trading Rank

TEGNA (TGNA) surged 29.78% on August 11, 2025, with a trading volume of $0.26 billion, marking a 479.25% increase from the previous day. The stock ranked 387th in trading activity among U.S. equities.

The rally followed reports of advanced acquisition talks between Tegna and Nexstar Media Group. Multiple outlets indicated Nexstar, the largest U.S. TV station owner, is in final negotiations to acquire Tegna’s 64 stations. Analysts attribute the move to potential FCC deregulation easing media ownership rules, as the sector consolidates to counter declining ad revenue and shifting consumer habits.

Brokerage firms have set an average 12-month price target of $20.75 for Tegna, with six firms recommending the stock as an “Outperform.” The GF Value model estimates a $19.95 target within a year, reflecting confidence in the company’s strategic positioning amid industry-wide M&A trends.

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