Big media acquisitions and streaming integrations will contribute to consolidation in connected TV (CTV) ad spending.

Nexstar is acquiring Tegna in a $6.2 billion deal that would expand its reach to 265 stations and 39% of US TV households, pending FCC approval. CEO Perry Sook says the merger is essential for competing with Big Tech, while critics warn it could weaken local journalism. The timing comes as regulators signal openness to loosening ownership caps. Local TV ad spending is projected at $17.27 billion in 2025, with broadcast accounting for most of it, but growth lags digital channels. Nexstar is betting that consolidation and scale will help protect broadcast revenue against mounting digital competition.

DirecTV wants to cut over the air out of the picture: A new “No Locals” discount is an attempt to stave off the inevitable decline of linear TV.