Eight states have filed a federal lawsuit to stop Nexstar's $3.54 billion purchase of Tegna, which would create the nation's largest broadcast television station owner. California's attorney general argues the deal would harm competition and eliminate local journalism jobs.
A coalition of eight states launched legal action Wednesday evening in federal court in California, seeking to halt Nexstar’s massive $3.54 billion deal to purchase competitor Tegna, a transaction that would create America’s biggest broadcast television station owner.
California’s Attorney General Rob Bonta declared the proposed combination illegal, warning it would drive up cable and satellite TV costs while eliminating employment opportunities in the industry.
“When broadcast media is owned by a handful of companies, we get fewer voices, less competition, and communities lose the critical check on power that local journalism delivers,” Bonta said.
The legal challenge comes after Federal Communications Commission Chairman Brendan Carr announced his backing for the transaction last month, stating he would proceed with approval following President Donald Trump’s public endorsement of the merger.
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