Nexstar Media Group Inc. is selling $5.12 billion in bonds to help finance its acquisition of Tegna Inc., marking a significant shift in the financing strategy for the TV station merger. The bond sale represents a key step in Nexstar's plan to acquire Tegna, which would create one of the largest local television broadcasting companies in the United States.

Originally, Nexstar had planned to use a different financing structure for the Tegna deal, but the company has now opted for this large bond offering instead. This change in approach suggests Nexstar may be adjusting its capital structure to better manage the acquisition costs and potentially reduce reliance on other forms of debt financing.

The bond sale comes as Nexstar seeks to strengthen its position in the local TV broadcasting market through the Tegna acquisition. By issuing these bonds, Nexstar is raising substantial capital to complete the deal, which would combine two major players in local television. The move demonstrates Nexstar's commitment to expanding its reach and consolidating its presence in the broadcasting industry.