A federal judge granted a preliminary injunction against the broadcast merger, saying it was likely to violate the Clayton Act.
U.S. Senators Ted Cruz and Maria Cantwell questioned the Federal Communications Commission Chair Brendan Carr, criticizing his approval of Nexstar's merger with Tegna , Bloomberg News reported on Monday.
A U.S. judge late Friday ordered Nexstar to temporarily keep Tegna's assets separate pending a review of whether the broadcast station owner's $3.54 billion acquisition of its rival Tegna violates federal antitrust laws.
The states have previously argued the deal would result in too much concentration in some local TV markets.
Broadcast station groups Nexstar and Tegna are merging after the companies received FCC and DOJ approval to close the deal late Thursday. Nexstar announced its proposed $6.2 billion acquisition of Tegna in August, and has been waiting on regulatory approval since then.
A group of eight states filed suit late Wednesday in U.S. District Court in California to block Nexstar's proposed $3.54 billion acquisition of Tegna that would make the combined entity the largest U.S. broadcast station group.
Cinctive Capital Management LP lifted its holdings in Nexstar Media Group, Inc. (NASDAQ: NXST) by 14.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 25,496 shares of the company's stock after acquiring an additional 3,180 shares during the quarter. Cinctive Capital Management
Nexstar Media Group, Inc. (NXST) Presents at Deutsche Bank 34th Annual Media, Internet & Telecom Conference Transcript
Nexstar Media Group, Inc. (NXST) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript
Nexstar Media Group remains a hold as the Tegna acquisition faces significant regulatory hurdles and legal uncertainties. NXST's 2025 results were impacted by the absence of election-year advertising and a $381M impairment, but underlying operations remain stable. At a non-GAAP forward P/E of 8.21, NXST appears undervalued versus peers, contingent on sustained performance and regulatory outcomes.
Nexstar Media Group, Inc. (NXST) Q4 2025 Earnings Call Transcript
He now supports the merger, which would add to media competition.