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Todd Spangler
NY Digital Editor
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Nexstar/Tegna Nexstar Media‘s $6.2 billion acquisition of rival TV station group owner Tegna is on hold after a federal judge ruled that the proposed merger “is presumed likely to violate antitrust laws based on the combined firm market share alone.”
The deal would augment Nexstar, already the biggest TV station group in the U.S., with Tegna’s footprint — resulting in a company with 259 full-power stations affiliated with networks including ABC, CBS, Fox and NBC. The deal would give the combined company reach across 80% of U.S. TV households. Nexstar announced on March 19 that the Tegna deal had closed following FCC and Justice Department approvals.
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