FCC approves Nexstar's purchase of Tegna, creating broadcast giant hours after lawsuits sought to block deal [CBS News]
TEGNA Inc (TGNA)
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Source: CBS News
The move came on the same day that attorneys general in eight states and DirecTV filed separate lawsuits seeking to block the deal, arguing that it will lead to higher prices for consumers and stifle local journalism. The FCC said in a statement announcing its approval that Nexstar's acquisition of Tegna will "enable these broadcast TV stations to counter the growing power that national programmers have amassed in recent years." With the deal, Nexstar will still own less than 15% of television stations in the U.S., the FCC said. In a lengthy social media post marking the approval, FCC Chair Brendan Carr said that Nexstar had agreed to "certain concrete conditions" as part of the deal, including "divesting a number of stations, increasing localism, and affordability steps." In its own statement, Nexstar said that the "transaction is essential to sustaining strong local journalism in the communities we serve," with a company spokesperson adding in an email to CBS News that it wo
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TGNA
News
- Nexstar closes $6.2B Tegna deal, announces $5.1B debt [Yahoo! Finance]Yahoo! Finance
- FCC approves $3.5B sale of Tegna to Nexstar amid state objections [USA TODAY]USA TODAY
- 8 states file emergency motion to block Nexstar-Tegna merger after FCC approval [Yahoo! Finance]Yahoo! Finance
- California attorney general asks judge to block Nexstar-Tegna merger [Los Angeles Times (CA)]Los Angeles Times
- Nexstar-Tegna Deal: Eight States File Emergency Motion to Halt ‘Disastrous' Merger of Local TV Broadcasters [Yahoo! Finance]Yahoo! Finance
TGNA
Earnings
- 3/2/26 - Beat
TGNA
Sec Filings
- 3/23/26 - Form 25-NSE
- 3/23/26 - Form S-8
- 3/23/26 - Form S-8
- TGNA's page on the SEC website