Judge Halts Local TV Giant Nexstar’s Takeover of Rival Tegna Until Trial

Judge halts local TV giant Nexstar’s takeover of rival Tegna until trial.

Image: Columbus, Ohio is one of the cities where Nexstar owns and operates two major television stations following its acquisition of rival TV group Tegna. Joe Sohm/Visions of America/Universal Images Group Editorial

 

David Folkenflik of NPR reports: “A federal judge has blocked local TV giant Nexstar’s takeover of a leading rival, Tegna, until an antitrust trial plays out.

If Nexstar loses, it could be compelled to unwind the $6.2 billion deal, in which it absorbed 65 additional stations.  In a statement Friday evening, Nexstar said it would appeal the ruling to the Ninth Circuit Court of Appeals.

Until the legal battle ends, Nexstar must separately operate the Tegna stations it just acquired, based on the ruling Friday by Chief Judge Troy Nunley of the Eastern District Court of California in Sacramento.

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