Judge Puts the Brakes on Nexstar-Tegna Television Merger
A 14-day restraining order stops Nexstar and Tegna from integrating while antitrust concerns over market control and consumer pricing are reviewed in federal court.
- On Friday, U.S. District Judge Troy Nunley ordered Nexstar Media Group to pause its $6.2 billion merger with Tegna, granting a temporary restraining order sought by DirecTV amid antitrust concerns.
- DirecTV and eight state attorneys general filed separate lawsuits challenging the deal, arguing the merger would reduce competition and increase consumer costs by concentrating market power.
- Nunley issued a 14-day temporary restraining order requiring the companies to maintain separate management and prevent sharing confidential business information, with a formal hearing scheduled for April 7.
- In his 24-page order, the judge noted that the companies "do not contest this merger will increase Nexstar's bargaining leverage to extract higher fees," validating antitrust concerns.
- Although the Federal Communications Commission and Department of Justice approved the merger earlier this month, the court's intervention halts integration efforts pending further review of the antitrust allegations.
26 Articles
26 Articles
Nexstar Stock Drops Sharply After Judge Puts Brakes On Tegna Merger
Nexstar stock fell 11% as Monday’s trading day neared its end, reflecting investor angst over a federal judge’s decision temporarily blocking the company’s merger with Tegna. The drop is a stunner for the shares, which have been among the steadiest in the media sector. Over the past five years, they have risen by 94%. In […]
Judge Halts Nexstar-Tegna Merger, Ruling That Deal Is ‘Presumed Likely to Violate Antitrust Laws’
Nexstar's $6.2 billion acquisition of rival TV station group owner Tegna is on hold after a federal judge ruled that the proposed merger "is presumed likely to violate antitrust laws based on the combined firm market share alone."
Judge pauses blockbuster merger between TV station owners Nexstar and Tegna
A federal judge late Friday put a hold on the $6.2 billion merger between Nexstar Media Group and Tegna, a deal that would create the largest operator of local television stations in the country.U.S.
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