FCC approves $6.2 billion Nexstar-Tegna merger day after CA lawsuit was filed
The deal expands Nexstar's reach to 80% of U.S. homes with 265 stations but faces antitrust lawsuits from eight state attorneys general and DirecTV over competition concerns.
- On Thursday, the Federal Communications Commission and Justice Department approved Nexstar Media Group, Inc.'s $6.2 billion acquisition of TEGNA Inc., and the transaction closed the same day.
- FCC Chairman Brendan Carr waived the 39% ownership cap, and Nexstar agreed to divest six stations after the DOJ granted early review termination.
- Owning 265 stations, the combined group will reach roughly 80% of U.S. households across 44 states and Washington, D.C., with the company owning 200 stations and TEGNA 64.
- The legal challenges — brought by eight states and DirecTV — remain pending in federal court after California Attorney General Rob Bonta and others sued Thursday to block the merger, saying it would reduce competition.
- Critics, including FCC Commissioner Anna Gomez, called the approval opaque and warned it could harm local news, while Sook said it is essential to sustain local journalism.
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116 Articles
FCC Approves Nexstar Deal, Massive Consolidation Starts Legal Fight
The decision, which was followed almost immediately by Nexstar’s rapid closing of the deal, has ignited legal challenges, opposition across the political spectrum, and renewed debate over federal media ownership limits.
Nexstar’s $6.2 billion Tegna deal wins approval despite antitrust challenge
One day after eight states filed an antitrust lawsuit to stop it, federal regulators approved Nexstar’s $6.2 billion takeover of Tegna — a deal that will create the largest owner […] The post Nexstar’s $6.2 billion Tegna deal wins approval despite antitrust challenge appeared first on Poynter.
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