US DOJ Clears Nexstar $3.5 Billion Acquisition of Tegna
US officials cleared Nexstar's $3.5 billion deal to buy Tegna. This follows lawsuits from eight states and DirecTV seeking to block the media merger yesterday.
The United States Department of Justice has reportedly granted unconditional clearance for the $3.5 billion acquisition of TEGNA Inc. by Nexstar Media Group, Inc.. According to reports on Thursday, federal authorities have granted the companies an early termination of the antitrust review, effectively closing an in-depth probe that was initiated last year.
This regulatory development occurs despite significant legal challenges aimed at halting the merger. A coalition of eight states recently filed a lawsuit in the U.S. District Court in Sacramento, California, to block the transaction, arguing that the combined entity would become the largest broadcast station group in the country. Additionally, streaming and satellite provider DirecTV filed a separate suit late Wednesday seeking to prevent the deal.
If finalized, the acquisition would significantly expand Nexstar's footprint, allowing it to reach approximately 80% of television households across key geographic regions. However, the merger still requires the Federal Communications Commission (FCC) to lift existing caps on station ownership. FCC Chair Brendan Carr has previously indicated his support for the deal, noting that he would move forward with approval following public backing from the executive branch. This report was compiled with contributions from correspondents based in Mexico City.
