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Stock impact report

Virginia, North Carolina AGs warn Nexstar-Tegna merger would harm local news [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
lawsuit to block Nexstar Media Group's proposed $6.2 billion acquisition of Tegna, warning the deal could raise costs and weaken local news across both states. The lawsuit, filed in federal court in California , argues the merger would violate antitrust law by reducing competition and concentrating control of local television stations under one company. Jones said the impact would be felt directly in Virginia, particularly in the Norfolk market, where the merger would give Nexstar control of multiple major network affiliates. WVEC 13News Now is currently owned by TEGNA, while WAVY 10 and WVBT Fox 43 are owned by Nexstar Media Group. “Our free press is under constant threat, and Virginians cannot afford to lose more independent local news voices,” Jones said. “When stations are consolidated, jobs are cut, local coverage suffers, and communities lose trusted sources of information.” North Carolina officials say their state could be among the hardest hit. Attorney General Jef Show less Read more
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