Eight States Sue to Block Nexstar’s $6.2 Billion Tegna Acquisition Over Antitrust Concerns
Nexstar Media Group's ambitious $6.2 billion takeover of Tegna faces significant legal hurdles as eight states, led by California and New York, file an antitrust lawsuit. The deal, which would combine the nation's largest and a top-five local TV station operator, would reach 60% of U.S. television households—far exceeding the 39% federal cap.
California Attorney General Rob Bonta framed the challenge as a defense of media diversity, arguing that consolidation threatens local journalism. The lawsuit comes despite public support from FCC Chair Brendan Carr and former President Donald Trump, who endorsed the merger on Truth Social.
DirecTV's separate lawsuit warns of potential carriage fee hikes, while Nexstar prepares an investment-grade bond offering to finance the transaction. The legal battles spotlight growing scrutiny of media consolidation in an era of shrinking local news outlets.
