Nexstar - Tegna merger blocked until antitrust lawsuit is settled

Nexstar-Tegna merger blocked until antitrust lawsuit is settled (NBC, KYMA) - A major media merger, involving Nexstar and Tegna, has been halted by a federal judge in California while an antitrust lawsuit works its way through the courts. The merger involves Nexstar's efforts to acquire Tegna-owned television affiliates across the country in a $6.2 billion deal that would consolidate a large number of local affiliates under one ownership group. Eight attorneys general, including California Attorney General Rob Bonta, and DirecTV contend the merger would lead to higher prices for consumers, stifle local journalism, and run afoul of anti-monopoly laws. Nunley in Sacramento, California, made the ruling late Friday afternoon, concluding that the plaintiffs in the suit were likely to prevail in their legal bid to stop the merger.