More State Attorneys General, Including Some Republicans, Join Antitrust Lawsuit Against Nexstar-Tegna Merger; Ohio Reaches Settlement
Five additional state attorneys general, including Republicans, have joined a bipartisan lawsuit to block Nexstar's $6.2 billion acquisition of Tegna, arguing it violates federal ownership limits and harms competition. A federal judge has imposed a stand-still provision halting integration of the companies pending litigation. Nexstar maintains the merger supports local journalism and plans to appeal, while Ohio reached a separate settlement with the company over local news commitments.
- ▪The Nexstar-Tegna merger, valued at $6.2 billion, would allow the combined company to reach 80% of U.S. households, exceeding the federal 39% ownership cap.
- ▪Attorneys general from Indiana, Kansas, Massachusetts, Pennsylvania, and Vermont joined the lawsuit, making it a bipartisan effort led by California AG Rob Bonta.
- ▪A federal judge issued a stand-still provision, preventing Nexstar and Tegna from integrating operations while the legal challenge proceeds.
- ▪Nexstar reached a settlement with Ohio AG Dave Yost, including commitments to maintain local news programming at WBNS-TV and WKYC-TV.
- ▪Nexstar argues that Big Tech and social media, not its merger, are the primary causes of the decline in local journalism.
Opening excerpt (first ~120 words) tap to expand
Nexstar is buying Tegna for $6.2 billion Nexstar; Tegna; Getty Images Five new state attorneys general – some of them Republican – have joined an antitrust lawsuit seeking to block the $6.2 billion merger of local TV station owners Nexstar and Tegna. The transaction, which technically closed March 19 after the FCC and the U.S. Department of Justice approved it, is a game-changer because it would create a giant entity whose stations would reach 80% of U.S. households. Federal law to this point has limited station reach by a single owner to 39% of households. DirecTV and eight state AGs sued to block the deal, and a federal judge backed the complaint, freezing the deal via a “stand-still provision” limiting integration efforts by the companies.
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