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Stock impact report

Injunction halts Nexstar, Tegna merger [Yahoo! Finance]

Nexstar Media Group, Inc. (NXST) 
Last nexstar media group, inc. earnings: 2/26 07:04 am Check Earnings Report
Company Research Source: Yahoo! Finance
(The Center Square) – Acquisition by Nexstar of Tegna involving television affiliates in the Charlotte, Greensboro and Virginia Tidewater market stretching into eight northeastern North Carolina counties will remain on hold and in litigation in part pursued by North Carolina's attorney general. A $6.2 billion acquisition set to take effect Tuesday evening, already approved by the Federal Communications Commission and the U.S. Department of Justice last month, was stopped by a preliminary injunction. Friday's ruling from Chief District Judge Troy Nunley in the U.S. District Court for the Eastern District of California in Sacramento is being appealed to the 9th U.S. Circuit Court of Appeals in San Francisco by litigators for Nexstar and joint defendant Tegna. Nunley reasons the merger could reduce competition in dozens of local markets. And, retransmission fees for consumers could rise. Nexstar would add NBC affiliate WCNC in the Charlotte market to already owning Fox affiliate W Show less Read more
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