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A federal judge has blocked Nexstar Media Group’s $6.2-billion acquisition of Tegna Inc. The order takes effect on Tuesday.
A federal judge issued an after-the-fact injunction blocking Nexstar's completed $6.2-billion Tegna acquisition.
KEY POINTS
- The court order requires Tegna to operate independently and bars Nexstar from influencing Tegna management.
- The merger was approved by the FCC's Media Bureau but not by the full FCC commission.
- Senators raised concerns about FCC's approval process and the merger exceeding Congressional ownership caps.
- The judge denied Nexstar's request for a $150-million bond due to lack of financial evidence.
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