The Radio + Television Business Report has independently confirmed that CBS News Radio will be winding down its operations over the next several weeks. The news was shared via an internal memo from CBS News editor-in-chief Bari Weiss and president Tom Cibrowski.
Now that Nexstar Media Group effectively owns TEGNA, which saw its stock conclude its trading at a $20.03 valuation and is being converted to "NXST" shares, the company founded 30 years ago by Perry Sook is moving forward with its intent to offer two rounds of senior secured notes to bondholders.
The Media Bureau head granted, with minor conditions, Nexstar Media Group's merger with TEGNA. It all but erases the 39% national ownership cap, setting up a court challenge being waged by eight state Attorneys General and DirecTV. Divestures have been agreed to, but the terms make it clear any sales are unlikely.
Gray Media and the Atlanta Braves have confirmed that the Major League Baseball Club's 2026 home opener against the Kansas City Royals on March 27 will appear on both "BravesVision" and on Gray-owned television stations.
It's not so much a surprise that it happened, but that it happened on March 19 perhaps caught some industry observers off-guard. The $6.2 billion transaction that rewrites local media ownership rules is now complete, with both the Department of Justice and the FCC granting approval of TEGNA's takeover by Nexstar.