Eight States Sue to Block Nexstar’s $6.2 Billion Deal for Tegna, Which Is Supported by Trump: ‘This Merger Is Illegal, Plain and Simple,’ California AG Says
Eight state attorneys general, led by California and New York, have filed a lawsuit to block Nexstar Media's $6.2 billion acquisition of rival local broadcaster Tegna. The deal would create the largest local broadcast group in the US, with 265 stations covering 80% of the country. The qatar-attacks.html" class="story-link" title="Trump threatens to blow up 'entirety' of major Iran gas field if it attacks Qata">Trump administration has endorsed the merger, while the FCC has also supported it despite unclear authority over ownership cap rules.
The merger violates antitrust laws and would cement Nexstar's monopolistic control over local television. The deal would raise prices for pay-TV customers and degrade local news coverage by reducing competition and diversity of voices in local markets.
The merger should be approved and has received endorsement from federal regulators. The FCC has supported the deal, suggesting federal authorities see benefits in allowing the consolidation to proceed despite state-level objections.
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Nexstar and Tegna’s Local TV Megamerger Challenged by Eight States
The Hollywood Reporter
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8 states sue to block Nexstar, Tegna merger
The Hill
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Eight States Sue to Block Nexstar’s $6.2 Billion Deal for Tegna, Which Is Supported by Trump: ‘This Merger Is Illegal, Plain and Simple,’ California AG Says
Variety
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California And Other States Sue To Block Nexstar-Tegna Merger
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