The $6.2 billion merger of Nexstar and Tegna, a game-changing deal poised to reshape the media business, has been on the lips of many NAB Show attendees this week. But a panel Monday afternoon with three FCC officials asked to explain the commission’s review of the transaction yielded few answers.
Even though the FCC and Department of Justice antitrust division both approved the transaction and Nexstar declared it to be closed, paying off Tegna and its shareholders, a lawsuit by DirecTV on antitrust ground has gained sudden traction. A federal judge last Friday issued a preliminary injunction blocking the deal. Nexstar has vowed to appeal the case to the Ninth Circuit federal appellate court.
At the NAB panel, moderator Larry Walke, associate general counsel for the broadcast lobbying group, asked a string of questions about the events of the past several weeks. He asked whether the FCC’s action
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