Written by: Maddy Tallman
Background
Nexstar and Tegna are two of the biggest owners of local television stations in the nation. Nexstar is currently the largest local television broadcasting group in the United States, controlling more than 200 stations and reaching about 220 million people. Tegna is the nation’s third-largest broadcasting group and controls about 65 television stations in over 50 different media markets.
In March, the two companies agreed on a $6.2 billion merger deal, which would create the largest broadcast station group in the United States, reaching about 80% of households. The resulting company would own about 265 television stations across 44 states and the District of Columbia, many of them local affiliates of national networks ABC, CBS, Fox, and NBC. If the merger stands, 31 media markets across the country where Nexstar and Tegna own competing stations would lose competition.
The deal was reviewed and approved by the Federal Communications Commission (FCC) and the U.S. Department of Justice (DOJ) in March. Until this point, the FCC had limited station reach such that no one station group could reach more than 39% of U.S. households. As a result, a coalition of state attorneys general has filed suit, alleging that the merger violates the Clayton Act by unlawfully limiting competition by eliminating consumers’ broadcast TV options. On April 17, Chief U.S. District Judge Troy Nunley granted a preliminary injunction on the merger, ruling that the plaintiffs were likely to succeed on the merits. Thus, as of right now, the merger is paused, pending further litigation. Nexstar indicated that it intends to appeal the injunction decision to the Ninth Circuit Court of Appeals.
Policy Concerns
The originally antitrust complaint named the attorneys general of California, Colorado, Connecticut, Illinois, New York, North Carolina, Oregon, and Virginia. This suit was also combined with a similar suit filed by DirecTV, naming it as a plaintiff in the current suit as well. More states have continued to join the suit. In the first week of May, Kansas, Indiana, Massachusetts, Pennsylvania, and Vermont joined, now making it a bipartisan effort.
The plaintiffs’ primary concerns are the decrease in broadcasting options and the increase in price to consumers. They first argue that the merger will substantially harm competition in local markets, resulting in fewer information sources, worse news quality, and higher consumer prices. The merger would allow Nexstar to charge television providers, like DirecTV, higher fees for its stations’ programs, which would likely be passed on to subscribers. If it refused, consumers could risk the loss of popular channels from the biggest four networks in the country.
Nexstar, on the other hand, argues that its deal with Tegna will strengthen local stations and support investment in local journalism. Nexstar contends that local news decline is driven by the “unchecked rise of Big Tech platforms, the spread of misinformation on social media, and the economic pressures that have already led to widespread newsroom closures.” The company insists that its efforts will keep these local stations alive, and without its support, many local stations may be lost.
The Clayton Act
Section 7 of the Clayton Act is a federal statute that prohibits mergers and acquisitions where the effect “may be substantially to lessen competition, or tend to create a monopoly.” The DOJ defines competition as “a process of rivalry that incentivizes businesses to offer lower prices, improve wages and working conditions, enhance quality and resiliency, innovate, and expand choice, among many other benefits.” They warn that mergers can lessen competition when they decrease competitive constraints, the number or quality of alternatives, or the intensity of market participants.
The Clayton Act requires agencies to assess whether mergers present a risk to competition. The Supreme Court has said that Section 7’s definition of unlawful in the antitrust competition is quite broad, requiring a plaintiff to show only that a merger’s effect “may be substantially to lessen competition” or tend to create a monopoly. Each merger should be analyzed on a case-by-case basis under the totality of the evidence. The DOJ says that the manner in which firms compete in a given industry should be one of these considerations.
Looking Forward
In the near future, a few options could play out. The injunction on the merger could be upheld at the appellate level, which may push the case along to a full trial. Nexstar may also attempt to modify its deal to reduce the potential harm to competition in certain markets. Another possibility is that the parties in the suit will settle, possibly imposing ownership limits or instituting other competition-stabilizing considerations. Finally, the merger could collapse altogether if the cost and effort of litigation pressure the deal.
Sources:
David K. Li, Federal Judge Blocks Nexstar–Tegna TV Station Merger, NBC News (Apr. 26, 2026), https://www.nbcnews.com/news/us-news/federal-judge-blocks-nexstar-tegna-tv-station-merger-rcna340788.
David Shepardson, More States Join Legal Challenge to Nexstar–Tegna Merger, Reuters (May 1, 2026), https://www.reuters.com/legal/litigation/more-states-join-legal-challenge-nexstar-tegna-merger-2026-05-01/.
Mark Jaffe, Nexstar–Tegna Antitrust Lawsuit Now Bipartisan as More Attorneys General Join, Colorado Sun (May 2, 2026), https://coloradosun.com/2026/05/02/nexstar-tegna-antitrust-attorneys-general-bipartisan/.
Nexstar Media Group, Inc., Nexstar Media Group, Inc. Statement on Preliminary Injunction (Apr. 25, 2026), https://www.nexstar.tv/nexstar-media-group-inc-statement-on-preliminary-injunction/.
N.Y. Off. of the Att’y Gen., Attorney General James Sues to Stop Nexstar–Tegna Merger (May 1, 2026), https://ag.ny.gov/press-release/2026/attorney-general-james-sues-stop-nexstar-tegna-merger.
Pa. Off. of the Att’y Gen., AG Sunday Joins Litigation to Stop Nexstar–Tegna Merger That Would Limit Pennsylvanians’ Broadcast TV Options (Apr. 30, 2026), https://www.attorneygeneral.gov/taking-action/ag-sunday-joins-litigation-to-stop-nexstar-tegna-merger-that-would-limit-pennsylvanians-broadcast-tv-options/.
U.S. Department of Justice, Merger Guidelines: Overview (2023), https://www.justice.gov/atr/merger-guidelines/overview.