A merger that would combine two regional media companies is the target of a letter from Sen. Elizabeth Warren (D-Mass.) and other members of Congress to the Federal Communications Commission and Department of Justice.
Here’s what that could mean for the potential deal between Nexstar Media Group Inc (NASDAQ:NXST) and Tegna Inc (NYSE:TGNA).
• Nexstar Media Gr stock is trading at elevated levels. What’s ahead for NXST stock?
Warren Targets Nexstar, Tegna Merger
A merger between Nexstar Media Group and Tegna gained attention when Jimmy Kimmel’s late-night talk show was suspended by Disney earlier this year, which came after Nexstar said it would not air the show.
Nexstar’s move came after FCC Chairman Brendan Carr said Kimmel should be punished for comments about Charlie Kirk. The move was viewed as potentially trying to earn favor with Carr.
The merger is now being targeted by Sen. Warren, who said in a letter that the combination could lead to job losses for the industry and increase costs, along with harming local journalism.
The letter, which was viewed by The Hollywood Reporter, was sent to Carr and DOJ Assistant Attorney General for the Antitrust Division Gail Slater.
Warren and the members of Congress who signed the letter ask Carr and Slater to take a closer look at the proposed offer from Nexstar for Tegna and to block the …Full story available on Benzinga.com
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