Nexstar says it will appeal following U.S. judge ruling halting Tegna merger

Nexstar will appeal a judge's ruling that blocked its acquisition of Tegna, extending uncertainty around the proposed broadcaster deal. The transaction is also facing antitrust challenges from DirecTV and a group of states, increasing legal and regulatory risk. The setback is negative for deal completion odds and could pressure Nexstar shares if investors had priced in a near-term close.

Analysis

Nexstar will appeal a judge's ruling that blocked its acquisition of Tegna, extending uncertainty around the proposed broadcaster deal. The transaction is also facing antitrust challenges from DirecTV and a group of states, increasing legal and regulatory risk. The setback is negative for deal completion odds and could pressure Nexstar shares if investors had priced in a near-term close.