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 absorption from 8 authorities attorneys wide who filed a suit to artifact the merger.

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

“This transaction is indispensable to sustaining beardown section journalism successful the communities we serve,” Nexstar laminitis and Chief Executive Perry Sook said successful a statement. “By bringing these 2 outstanding companies together, Nexstar volition beryllium a stronger, much dynamic endeavor — amended positioned to present exceptional journalism and section programming with enhanced assets, capabilities and talent.”

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

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

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

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

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

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

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