Nexstar found in violation of court order freezing Tegna merger

A judge has ruled that Nexstar violated a preliminary injunction intended to freeze its proposed $6.2 billion acquisition of Tegna. The injunction required both companies to operate as separate entities with independent management and newsrooms while an antitrust lawsuit, filed by North Carolina Attorney General Jeff Jackson, proceeds.

Judge Troy Nunley found that Nexstar violated the order by placing its own executives—including its CEO, president, CFO, and general counsel—on Tegna’s Board of Directors. The judge described the attempt to maintain influence over Tegna management as “shocking” and criticized Nexstar for a “lack of candor” regarding its actions.

As a result, the court has ordered the appointment of a special master or magistrate judge to monitor compliance. Nexstar must also remove its officers from Tegna’s board, submit monthly compliance documents to the Attorney General and other states, and file a status report within 10 days.