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Stock impact report

Nexstar Stock Falls Over 8% After Judge Pauses 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
Lucas Manfredi 3 min read Nexstar Media Group company logo is seen displayed on a smartphone screen. (Credit: Piotr Swat/SOPA Images/LightRocket via Getty Images) Shares of Nexstar fell over 8% during Monday's trading session after a judge put its $6.2 billion merger with rival Tegna on pause The move comes as DirecTV and state attorneys general are suing to block the merger, arguing that it would violate antitrust laws by driving up costs for consumers, reduce competition and increase the frequency and duration of blackouts of key local teams and network programming. On Friday, U.S. District Judge Troy L. Nunley granted DirecTV's request for the deal to be paused, noting that Nexstar and Tegna “do not contest this merger will increase Nexstar's bargaining leverage to extract higher fees.” The judge also stated that he was convinced by DirecTV's “assertion that despite defendants' claim the rise of streaming services and ‘cord-cutting' will create a downward pressure on ret Show less Read more
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