Nexstar Finalizes Acquisition Of Tegna's Tv Stations, Despite Opposition

KTLA-owner Nexstar Media Group said it has closed its woody to get rival Tegna’s TV stations, contempt guidance from 8 authorities attorneys wide who revenge a lawsuit to artifact nan merger.

The acquisition was approved by nan Federal Communications Commission’s Media Bureau and nan Justice Department, Irving, Texas-based Nexstar said Thursday.

“This transaction is basal to sustaining beardown section publicity successful nan communities we serve,” Nexstar laminitis and Chief Executive Perry Sook said successful a statement. “By bringing these 2 outstanding companies together, Nexstar will beryllium a stronger, much move endeavor — amended positioned to present exceptional publicity and section programming pinch enhanced assets, capabilities and talent.”

Sook besides mentioned President Trump and FCC Chairman Brendan Carr by sanction successful nan statement, saying nan institution was “grateful” they recognized nan “dynamic forces shaping nan media landscape” and allowed nan transaction to move forward. President Trump had supported nan deal.

The astonishment announcement came only a time aft 8 authorities attorneys general, including California’s Rob Bonta, sued to extremity nan deal, arguing it would springiness Nexstar excessively overmuch power of section TV stations. At nan time, Bonta said nan operation would origin “irreparable harm to section news and consumers who trust connected their reporting arsenic a captious root of information.”

Nexstar is nan largest TV position proprietor successful nan U.S., pinch 164 outlets including KTLA successful Los Angeles. If nan merger pinch Tegna succeeds, Nexstar would person 265 TV stations reaching 80% of nan U.S. and aggregate outlets successful a number of markets.

The suit besides claimed it would springiness nan mixed institution excessively overmuch leverage successful negotiating fees from pay-TV providers that transportation their stations, which could raise costs for consumers.

The plaintiffs successful nan suit besides see authorities attorneys wide successful Colorado, Connecticut, Illinois, New York, North Carolina, Oregon and Virginia.

FCC Commissioner Anna Gomez said nan merger violates nan existing nationalist ownership headdress of 39% nether national rule and said nan acquisition did not person a ballot earlier nan full commission. The FCC approved this woody pinch waivers, meaning nan institution tin run successful usurpation of that ownership cap.

“A transaction of this magnitude, which includes caller and caller issues earlier nan FCC, demands unfastened deliberation earlier nan afloat Commission, not a quiet sign-off meant to debar nationalist scrutiny,” Gomez said successful a statement. “Given nan progressively alarming gait of reckless media consolidation, nan American nationalist deserves to cognize really and why this determination was made.”

The FCC did not respond to an contiguous petition for comment.

Times unit writers Stephen Battaglio and Meg James contributed to this report.