Regulatory Scrutiny Casts Doubt on Tegna Acquisition Timeline

The proposed $6.2 billion acquisition of broadcaster Tegna by media giant Nexstar Media Group faces significant uncertainty, with its fate now resting in the hands of U.S. regulators. Despite receiving shareholder approval in November, the deal’s completion is contingent upon critical decisions from the Federal Communications Commission (FCC) and the Department of Justice (DOJ), with strict procedural deadlines now dictating the timeline.

Tegna’s stockholders voted in favor of the sale to Nexstar on November 18. Since then, the company’s share price has remained sensitive to regulatory developments. On December 9, shares closed at $19.55, following a 1.36% gain the previous trading day.

The broader analyst consensus currently rates the stock as Read more...