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A federal judge on April 17 temporarily blocked Nexstar’s $6.2 billion acquisition of local broadcast station owner Tegna amid antitrust challenges from eight states.
U.S. District Court Chief Judge Troy L. Nunley in Sacramento issued a preliminary injunction, finding that plaintiffs were likely to succeed in their claims that the merger would reduce competition in local television markets and make it difficult for distributors like DirecTV to reject Nexstar’s demands for higher prices.
“Based on the foregoing, the court finds defendants’ rebuttal evidence is insufficient to overcome plaintiffs’ prima facie case. Plaintiffs establish ‘a reasonable probability of anticompetitive effect’ in the market,” the judge wrote in a 52-page ruling….
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