Market Chatter: Nexstar Media Seeks Faster Review of Court Order Halting Tegna Merger

MT Newswires Live05-21 15:57

Nexstar Media Group (NXST) asked a US appeals court to fast-track the review of a lower court order blocking the company's merger with Tegna (TGNA), Reuters reported late Wednesday.

A California judge temporarily stopped the $6.2 billion transaction in April following challenges brought by a group of state attorneys general and DirecTV, according to the report.

The broadcaster said the delay has already cost it tens of millions of dollars, affecting hiring efforts and business planning, the report said.

If the order remains in place, a trial is unlikely to begin before 2027, Reuters reported.

Nexstar Media Group did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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