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Stock impact report

Nexstar-Tegna deal on ice after judge issues temporary restraining order [Yahoo! Finance]

TEGNA Inc (TGNA) 
Last tegna inc earnings: 2/11 08:01 am Check Earnings Report
US:NYSE Investor Relations: investors.tegna.com
Company Research Source: Yahoo! Finance
Tegna, throwing a wrench into plans blessed by President Donald Trump to establish the country's largest television company. In his 14-day temporary restraining order, U.S. District Judge Troy Nunley, an Obama appointee, sided with DirecTV, which claimed in a lawsuit filed last week that Nexstar's $6.2 billion acquisition of Tegna is an endeavor to “drive up the price it can extract from DIRECTV and other distributors,” enact mass layoffs and reduce competition. “Here, the Court agrees with Plaintiff that Defendants' integration efforts are exactly those that would make it more difficult to divest TEGNA stations, eliminate competition, and result in newsroom layoffs and shutdowns,” Nunley wrote in his Friday ruling. Eight states — New York, California, Colorado, Connecticut, Illinois, North Carolina, Oregon and Virginia — sued to block the merger in a separate filing on the same day as DirecTV's. But just hours later, the Federal Communications Commission approved the merger , b Show less Read more
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