A California federal judge has blocked a $6.2 billion merger between local television giants Nexstar Media Group Inc. and Tegna Inc. The judge issued a preliminary injunction, ordering Nexstar to keep operating Tegna as a separate company until a final judgment is issued regarding an antitrust lawsuit.
Judge Trevor Nunley ruled that the merger is likely to violate the Clayton Act and that DirecTV and eight state attorneys general are likely to win their case to block the deal. The judge stated that consumers could suffer irreparable harm if Nexstar integrated Tegna's stations into its own operations ahead of the antitrust trial.
The deal, which had been approved by the FCC, would create the largest local TV operator in the U.S., owning 265 television stations across 44 states and Washington, D.C. While Nexstar claimed its deal was already done, the judge ruled that the two companies cannot combine operations while the lawsuit proceeds.