Federal judge blocks Nexstar-Tegna TV station merger until antitrust lawsuit is settled
A federal judge blocked the $6.2 billion Nexstar-Tegna merger pending resolution of an antitrust lawsuit, citing potential harm to consumers and local journalism.Summary
U.S. District Court Chief Judge Troy L. Nunley blocked the $6.2 billion merger between Nexstar Media Group and Tegna, citing concerns raised by eight attorneys general and DirecTV in an ongoing antitrust lawsuit. The plaintiffs argue the merger would lead to higher prices for consumers, stifle local journalism, and violate antitrust laws. The deal, previously approved by the Federal Communications Commission (FCC), would create a company owning 265 television stations, potentially giving Nexstar significant power over retransmission fees charged to distributors like DirecTV. Judge Nunley highlighted Nexstar’s history of consolidating local news stations, which could reduce viewer options. The judge also criticized the FCC’s review process as “unusual” and noted the Department of Justice’s early termination of its antitrust review. The preliminary injunction maintains the status quo until the lawsuit is resolved, with New York Attorney General Letitia James calling the ruling a “critical victory” for consumers and fair competition.
(Source：Wkmg)