Nexstar says it has acquired Tegna as state AGs push to block the merger | CNN Business

Nexstar says it has completed its acquisition of Tegna, uniting two of the largest TV station ownership groups in the United States. But the deal still faces legal scrutiny: Eight state attorneys general have filed an antitrust lawsuit to block the acquisition. The state officials, led by California Attorney General Rob Bonta, say the merger will hurt consumers by hiking prices and weakening local news coverage. Nexstar CEO Perry Sook says otherwise: “This transaction is essential to sustaining strong local journalism in the communities we serve.” The big broadcasting merger provoked grave concern from media watchdog groups when it was announced last August, but it was viewed as inevitable by Wall Street analysts who have forecast further consolidation in the beleaguered broadcast TV business. Sook personally courted President Donald Trump as Nexstar sought the administration’s approval for the deal. Those approvals were announced on Thursday afternoon, leading Nexstar to immediately say that it has “closed,” or completed, the deal. Sook thanked Trump and the administration “for recognizing the dynamic forces shaping the media landscape and enabling this transaction to