Banks led by Bank of America Corp. have launched a $2.75 billion leveraged loan to help fund Nexstar Media Group Inc.'s pending acquisition of rival TV-station owner Tegna Inc. The financing package represents a significant commitment from major lenders to support the media consolidation deal.

This leveraged loan structure is commonly used in large media acquisitions to provide immediate capital while spreading risk across multiple financial institutions. The deal would combine two of America's largest television broadcasting companies, creating a powerhouse with hundreds of local stations nationwide. Bank of America's lead role signals confidence in the transaction's financial viability.

The loan's size and terms will be crucial for Nexstar's ability to complete the acquisition on schedule. Media industry analysts will be watching closely to see if the financing faces any market resistance, given current economic uncertainty and rising interest rates that have made leveraged loans more expensive.