[REVISION HISTORY]
Nexstar-Tegna merger legal battle intensifies
Updated 2 times since CLSTR started tracking revisions of this situation.
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2026-08-10 22:02 UTC → 2026-08-14 19:45 UTC ·
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The $6.2 billion Nexstar–Tegna merger remains stalled by a federal preliminary injunction. While Nexstar CEO Perry Sook suggested to investors that a settlement could be reached before the antitrust trial next year, the company’s financial position remains strong, reporting record second-quarter revenue of $2.0 billion and $238 million in adjusted free cash flow. Legal complications have intensified following a ruling by Judge Troy Nunley, who found that Nexstar violated the preliminary injunction intended to keep the companies operating as separate entities. The judge described Nexstar’s decision to place its CEO, president, CFO, and general counsel on Tegna’s board as “shocking” and criticized the company for a “lack of candor.” As a consequence of these violations, consequence, the court has ordered Nexstar to remove its officers from Tegna’s board and board, submit monthly compliance documents to the Attorney General and other states. Additionally, states, and appoint a special master or magistrate judge will be appointed to monitor compliance. In response to the ruling, Nexstar has begun replacing the Tegna Board of Directors. Four of the five Tegna directors—including Nexstar Chairman and CEO Perry Sook, President Michael Biard, General Counsel Elizabeth Ryder, and consultant Timothy Busch—have resigned. Nexstar CFO Lee Ann Gliha is expected to resign once new directors are appointed. Attorneys for both companies stated they are recruiting new applicants who meet court criteria to maintain Tegna as a stand-alone entity. The merger’s future continues to depend on the Ninth Circuit appeal and the outcome of the antitrust lawsuit filed by the Department of Justice Justice, DIRECTV, and several state attorneys general.
Versions
- 2026-08-14 19:45 UTC Nexstar-Tegna merger legal battle intensifies
- 2026-08-10 22:02 UTC Nexstar-Tegna merger legal battle intensifies
- 2026-08-07 05:38 UTC Nexstar‑Tegna merger legal battle intensifies
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