Court Moves To Examine Merger Of Two Local TV Conglomerates

Nexstar completed its $6.2 billion acquisition of Tegna, giving it control of 265 local stations that reach roughly 80% of U.S. households. The FCC granted a waiver of ownership caps without a full commission vote, and the Justice Department approved the deal despite longstanding antitrust concerns. A coalition of eight states, Democratic attorneys general and DirecTV have sued, and a California federal judge issued a temporary restraining order on Nexstar’s operation of Tegna stations. Nexstar touts $300 million in annual synergies but faces scrutiny over potential newsroom cuts and market concentration.

Source: ArtsJournal