States Fight $3.5B Nexstar-Tegna Merger, Claiming Job Cuts and Higher Costs
Eight US states are seeking to temporarily block the $3.5 billion merger of Nexstar Media Group and Tegna, arguing it would create the largest broadcast station group, leading to job losses and higher cable bills.
Eight states have taken legal action to temporarily halt the $3.5 billion merger between Nexstar Media Group and Tegna, the latest chapter in the ongoing battle over this high-stakes media consolidation.
The states, including New York, California, and Massachusetts, argue that the deal would create the largest broadcast station group in the United States, leading to significant job cuts and increased consumer costs for cable and satellite TV services.
The merger, which received approval from the Federal Communications Commission (FCC) and the US Department of Justice on Thursday, was swiftly closed just two hours later, much to the dismay of the states involved in the lawsuit.
Source: The Guardian
