Nexstar stock drops after judge blocks TEGNA deal

Nexstar stock drops after judge blocks TEGNA deal

The television studios of KXTV, the Sacramento ABC affiliate owned by TEGNA. (Photo by Matthew Keys for The Desk) Shares of Nexstar Media Group traded sharply lower on Monday, the first full day of trading since a federal judge blocked the broadcaster’s $6.2 billion acquisition of peer TEGNA late last week. Nexstar’s stock priced closed at just over $185 per share, down nearly $28 from its opening price. The broadcaster is considered among the h…

Nexstar Tells Stations to Cut NBC News Channel

Nexstar sources tell FTVLive that before the federal judge paused the Nexstar Tegna merger, Tegna NBC affiliates were told that starting today (March 31) it would be the last day using the affiliate service and that no more using reporters, packages, or even taking live special reports.Now with the TRO in place, Nexstar has backed off the orders to the Tegna station. Nexstar told the NBC affiliates that they would instead use News Nation moving …

Nexstar/Tegna Opponents Highlight 'Unusual' Deal Approvals

DirecTV and the eight states seeking a restraining order against the Nexstar/Tegna deal told the U.S. District Court for Eastern California in filings Thursday that the approvals by DOJ and the FCC Media Bureau and the speedy closing were unusual...

Nexstar closed down 13% on Monday after a US judge issued a temporary restraining order Friday evening blocking the company's $6.2B merger with Tegna

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Nexstar/Tegna integration paused by DirecTV challenge

DirecTV has shown that Nexstar’s $6.2 billion purchase of Tegna likely violates US antitrust law, a California federal judge has ruled, finding that the merging TV broadcasters failed to present “any substantive opposition” to the plaintiff’s market concentration statistics. 

More Early 20th Century Antitrust Illogic from the Courts

The idiocy of the antitrust goons in Washington seems to know no bounds. In the courts’ latest preposterous decision last week, a federal judge blocked media giant Nexstar from merging with Tegna. Screenshot Judge Troy Nunley ruled that the transaction likely violates Section 7 of the antiquated Clayton Act, by substantially lessening competition in local television markets because it would own 260 stations across 44 states. So what? Hello! Nobo…