Nexstar Claims Its $6.2 Billion Deal for Tegna Has Closed Following DOJ, FCC Approvals — After Eight States, DirecTV Sued to Block It

Nexstar Media Group said it “has closed its acquisition” of Tegna in a $6.2 billion deal that would following approval of the transaction from the FCC and the Department of Justice.

The deal would augment Nexstar, already the biggest TV station group in the U.S., with Tegna’s footprint — resulting in a company with nearly 260 full-power stations, variously affiliated with networks including ABC, CBS, Fox and NBC.

Nexstar’s announcement comes after eight state attorneys general and DirecTV filed federal lawsuits seeking to block the Tegna takeover, which both said the merger would increase prices for consumers and harm the production of local news.

In approving the deal, the FCC granted the companies a waiver of its ownership-cap rule that prohibits any local station owner from reaching more than 39% of U.S. households. Nexstar has committed to divesting six stations across six different markets as well as “commitments that go to affordability and localism,” per the FCC.

In a statement, Perry Sook, Nexstar’s founder, chairman and CEO, said in a statement, gave a shout-out to President Donald Trump and FCC chairman Brendan Carr for “enabling this transaction to move forward.”

“This transaction is essential to sustaining strong local journalism in the communities we serve,” Perry Sook, Nexstar’s founder, chairman and CEO, said in a statement. “By bringing these two outstanding companies together, Nexstar will be a stronger, more dynamic enterprise — better positioned to deliver exceptional journalism and local programming with enhanced assets, capabilities, and talent. We are grateful to President Trump, Chairman Carr, and the DOJ for recognizing the dynamic forces shaping the media landscape and enabling this transaction to move forward.”