States Challenge Nexstar-Tegna $3.5 Billion Merger
Eight U.S. states have requested a temporary restraining order to halt the $3.5 billion merger between Nexstar Media Group and Tegna. The states contend that the merger would consolidate media control, negatively affect local employment, raise cable costs, and disrupt news and media delivery nationwide.
On Friday, eight states sought a temporary restraining order from a U.S. judge to block the $3.5 billion merger between Nexstar Media Group and Tegna.
The request followed the Federal Communications Commission and the U.S. Justice Department granting approval for the merger on Thursday, with the companies announcing its completion shortly afterward.
The opposing states argue that forming the largest broadcast station group in the U.S. could lead to a monopolistic control over broadcast programming, harming local job markets, increasing cable prices, and impacting the dissemination of news and media content nationwide.
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