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Nexstar
said on Friday it will appeal a federal judge’s ruling halting its acquisition of rival broadcaster Tegna, after the judge issued a preliminary injunction as antitrust challenges from DirecTV and a group of states proceed.
Chief U.S. District Judge Troy Nunley in Sacramento said the plaintiffs were likely to succeed on their claims that the $3.54 billion deal will substantially lessen competition in dozens of local television markets.
The court’s order bars Nexstar from consolidating its operations with Tegna, but does not unwind the transaction. The deal closed quickly after the Justice Department and the Federal Communications Commission approved it on March 19, as Nexstar noted in its statement announcing its appeal.
