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Stock impact report

Federal judge could halt Nexstar-Tegna TV station merger [Los Angeles Times (CA)]

Nexstar Media Group, Inc. (NXST) 
Last nexstar media group, inc. earnings: 2/26 07:04 am Check Earnings Report
The combination would give Nexstar control of 265 TV stations reaching 80% of U.S. households, far exceeding Congress's 39% ownership cap for broadcasters. State attorneys general and DirecTV argued the deal threatens local journalism, would reduce competition, raise consumer TV prices and close newsrooms nationwide. SACRAMENTO — A federal judge appears willing to block a $6.2-billion merger of two large TV station groups as he evaluates whether Nexstar Media Group's takeover of a rival violates U.S. antitrust laws. At the conclusion of a two-hour hearing in Sacramento on Tuesday, U.S. District Court Chief Judge Troy L. Nunley signaled he was preparing to issue a preliminary injunction that would prevent Nexstar and Tegna from combining operations amid an ongoing legal challenge. Nunley said he would draft a written order, which is expected by Friday. Previously, Nunley had issued a temporary restraining order to pause the merger. Last month, Nexstar raced to finalize its Show less Read more
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