Federal judge blocks Nexstar's $6.2B Tegna merger

Chief U.S. District Judge Troy L. Nunley granted a preliminary injunction Thursday halting Nexstar Media Group’s planned $6.2 billion acquisition of Tegna until an antitrust lawsuit is resolved. Plaintiffs led by DirecTV and attorneys general from California and seven other states argue the deal would concentrate local TV ownership because the combined company would control 265 stations in 44 states. Nunley found the plaintiffs are likely to prevail on antitrust claims, so Nexstar cannot close the transaction while the case proceeds and the companies must wait for a court decision or settlement.