A U.S. District Judge issued a temporary restraining order on March 28 2026 that halts Nexstar Media Group’s $6.2 B acquisition of Tegna, preventing the two companies from integrating operations for at least 14 days and requiring Nexstar to keep Tegna’s assets separate.
The merger had been cleared by the Federal Communications Commission and the Department of Justice on March 19 2026, but a coalition of eight state attorneys general and DirecTV filed antitrust lawsuits the same day. The lawsuits argue that the combined entity would wield excessive market power, potentially driving up retransmission consent fees and eroding local news competition. The restraining order is the first judicial step to address those claims, and a hearing is scheduled for April 7 to decide whether a preliminary injunction will be granted.
Nexstar’s CEO Perry Sook has repeatedly said the deal is essential for sustaining strong local journalism, and the company has committed to divesting six stations as a condition of the sale. The order also highlights the FCC’s earlier decision to waive its ownership rule, a move that attracted criticism from Commissioner Anna Gomez for lacking transparency. The pause could delay the synergies and capital‑allocation benefits that Nexstar projected, adding uncertainty for investors and potentially affecting the company’s valuation.
The restraining order does not end the merger outright; it merely suspends integration and forces Nexstar to maintain separate operations for two weeks. If the court grants a preliminary injunction, the parties may be required to negotiate a settlement or restructure the deal. The outcome of the April 7 hearing will determine whether the merger can proceed, be modified, or be abandoned, with significant implications for both companies’ strategic trajectories.
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