A federal judge eased some of the restrictions on his order that at least temporarily blocked Nexstar‘s merger with Tegna, but he also extended the freeze on the transaction for another week.
U.S. District Judge Troy Nunley will allow Nexstar to conduct debt service and repayment obligations, comply with Securities and Exchange Commission reporting requirements, and make appointments to keep Tegna operating, among other things. In the case of the latter, Nexstar is still prohibited from installing its own company employees or officers. Nexstar also will be allowed to set thresholds for contract approval, expenditure authorization and other financial limits, similar to how Tegna operated before the deal closed on March 19.
Shortly after securing regulatory approval on that date, Nexstar announced that it had closed its deal to acquire Tegna, creating a broadcast giant of around 260 stations across the country. But in the previous day,
...Keep reading this article on DEADLINE.
