Summary
The Department of Justice approved Nexstar Media Group's $3.5 billion purchase of Tegna, which is a significant step in the merger process. Nexstar CEO Perry Sook thanked President Donald Trump for the approval, which will create the largest broadcast station group in the U.S. The deal needs more approval from the Federal Communications Commission before it is complete.
Key Facts
- Nexstar is buying Tegna for $3.5 billion.
- The Department of Justice cleared the deal, moving it forward.
- A lawsuit in California and another from DirecTV are trying to stop the merger.
- Nexstar CEO Perry Sook thanked President Trump for supporting the deal.
- The merger could expand Nexstar’s coverage to 80% of U.S. households.
- The Federal Communications Commission still needs to approve the merger.
- The approval process included a close review by the Justice Department last year.
