Judge orders Nexstar-Tegna to pause merger

"District Judge Troy Nunley stated that the merger would force national pay-TV providers like DirecTV to lift their prices on consumers, causing 'irreparable harm.'"

"The plaintiffs' argument that the deal will reduce competition in dozens of markets was likely to prevail in court, according to Judge Nunley."

"Nexstar's acquisition of Tegna for $6.2 billion would span more than 259 stations, giving it over an 80% reach into U.S. households."

"Opponents of the deal argue that only Congress can unwind the local broadcast station ownership cap, which the FCC had to waive for the merger."

District Judge Troy Nunley ruled against Nexstar's merger with Tegna, agreeing with DirecTV and eight state attorneys general that the deal would harm consumers by raising prices. The judge indicated that the merger would likely reduce competition in various markets. Nexstar plans to appeal the ruling. The merger, valued at $6.2 billion, would have allowed Nexstar to reach over 80% of U.S. households, necessitating a waiver from the FCC regarding local broadcast station ownership limits.

Read at Axios