Nexstar Tegna Merger Blocked; Judge Halts $6.2B Deal

Nexstar Media Group’s planned Nexstar Tegna merger was halted by a preliminary injunction on April 17, 2026, requiring Nexstar to operate Tegna Inc. as an independent business unit starting April 20, 2026. Nexstar said it will appeal the ruling.

Judge Halts Merger Citing Antitrust Concerns

U.S. District Court Chief Judge Troy L. Nunley of the Eastern District of California issued a 52-page preliminary injunction on April 17, effective April 20. The order requires Nexstar to stop consolidating Tegna and maintain its economic viability as a separate unit.

Nunley found the merger likely violates the Clayton Act, citing risks of higher consumer prices and fewer local-news options. He pointed to concentrated ownership in 31 local markets and ruled that prior regulatory concessions failed to offset competitive harms.

The antitrust lawsuit was filed March 18, 2026, by attorneys general from eight states—all Democrats—led by California Attorney General Rob Bonta and New York Attorney General Letitia James, alongside DirecTV. The plaintiffs argued the consolidation would harm consumers and local broadcasters, a position the judge accepted in granting relief.

The court had issued an emergency temporary restraining order in late March that blocked the deal for about three weeks. It held a hearing on April 7 to consider extending that block before issuing the injunction.

Deal Closed Despite Litigation, Expanding Nexstar’s Reach

Nexstar and Tegna closed the $6.2 billion transaction on March 19, 2026, after the FCC’s Media Bureau authorized the license transfers and the Justice Department ended its antitrust review early that month. These federal approvals prompted Nexstar to proceed with post-closing integration steps before the state-led litigation was resolved.

The FCC approval came through the Media Bureau rather than a full commission vote and required Nexstar to divest six stations and commit to expanding local journalism. Judge Nunley described this process as unusual, involving rule waivers linked to the prior administration.

Following the merger, the combined company controls 265 television stations across 44 states and the District of Columbia, mostly affiliates of the Big Four broadcast networks. Nexstar’s station count rose from 164, extending its footprint into additional local markets. After closing, Nexstar dissolved Tegna and paid its shareholders. The company said in a statement on April 17 that it now owns Tegna and has taken steps consistent with the court’s order.

The injunction reverses the companies’ operational integration pending a full antitrust trial. It sets up a test of whether state attorneys general and private plaintiffs can overturn transactions that previously received federal approvals, including the Media Bureau license transfer and early DOJ clearance. The ruling could influence how courts and regulators evaluate remedies in future broadcast-market mergers and the weight given to federal approvals when states pursue Clayton Act claims.