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Nexstar ready to hook up with TEGNA?

Y2kTheNewOldies said:
deadline.com

Nexstar Tells Judge Aspects Of Tegna Merger "Cannot Be Reversed"

A judge paused Nexstar's merger with Tegna last week.
deadline.com deadline.com
Click to expand...
Once again: The TEGNA shareholders were paid as soon as the deal closed. If the merger is killed after the fact, how does Nexstar get that money back? And how do you get the former TEGNA shareholders to return that money?šŸ˜šŸ¤£ You would be trying to reconstitute a company that no longer exists as an independent concern and would have no capitalization.

What a mess.
 
Mediafrog+ said:
Once again: The TEGNA shareholders were paid as soon as the deal closed. If the merger is killed after the fact, how does Nexstar get that money back? And how do you get the former TEGNA shareholders to return that money?šŸ˜šŸ¤£ You would be trying to reconstitute a company that no longer exists as an independent concern and would have no capitalization.

What a mess.
Click to expand...
If the judge rules the merger unlawful, couldn't they just spin off TENGA to the Nexstar shareholders?
 
powergate92 said:
If the judge rules the merger unlawful, couldn't they just spin off TENGA to the Nexstar shareholders?
Click to expand...
Possibly, but institutional investors could be a problem, as you would have essentially the same ownership for both companies.

Recall the failed attempt of Standard General to buy TEGNA. A huge issue with that transaction was that Apollo Global Management not only had a large slice of the SG pie, it also owned most of Cox Media Group. That resulted in multiple ownership cap conflicts where SG and CMG would both have had stations in the same market.

The various lawsuits to stop the merger should have been filed seven months ago when the deal was announced, not on the eve of closing. Toothpaste, go back in tube.
 
Y2kTheNewOldies said:
www.ftvlive.com

Nexstar Tells Stations to Cut NBC News Channel ā€” FTVLive

The Tegna station got a reprieve today! But, for how long before this mandate goes in place?
www.ftvlive.com www.ftvlive.com

Here is more this time Nexstar stations like WCMH, KXAN are going to have to use News Nation going forward and not the NBC News Service for local news segments.

*Note the Tegna stations like KING, KARE, KUSA and WCNC have a TRO and may continue to use NBC News Channel for now.




www.ftvlive.com

The Nexstar Copyright is Gone ā€” FTVLive

Nexstar has been erased at Tegna stationsā€¦.
www.ftvlive.com www.ftvlive.com
Click to expand...
So, I guess that means the Nexstar NBC affiliated stations will simulcast Newsnation during braking news. Wonder if that means at some point they could choose not to air NBC Nightly news or the Today show and instead air NewsNation in place of those shows.
 
DavinaR said:
So, I guess that means the Nexstar NBC affiliated stations will simulcast Newsnation during braking news. Wonder if that means at some point they could choose not to air NBC Nightly news or the Today show and instead air NewsNation in place of those shows.
Click to expand...
Not sure if these affiliates are about to flip to the CW a network owned by Nexstar. But we have been dancing around the affiliation flips with them given their ownership to the CW.
 
Mediafrog+ said:
Once again: The TEGNA shareholders were paid as soon as the deal closed. If the merger is killed after the fact, how does Nexstar get that money back? And how do you get the former TEGNA shareholders to return that money?šŸ˜šŸ¤£ You would be trying to reconstitute a company that no longer exists as an independent concern and would have no capitalization.

What a mess.
Click to expand...
I guess the court would direct a divestment and these would be spun off somehow with the proceeds compensating Nexstar. I doubt that comes to pass though. I think the merger remains intact upon higher court review but with perhaps some additional requirements imposed.
 
DavinaR said:
So, I guess that means the Nexstar NBC affiliated stations will simulcast Newsnation during braking news. Wonder if that means at some point they could choose not to air NBC Nightly news or the Today show and instead air NewsNation in place of those shows.
Click to expand...
As long as they are network affiliated, the would only be able to pre-empt the Nightly News or Today on a very limited basis.
 
vchimpanzee said:
At one time (it may still be true) NBC News Channel was in Charlotte. Sharing space with WCNC.
Click to expand...

NBCNC Orbit

NBC Affiliate Feed Service
nbcnewschannel.com nbcnewschannel.com

www.nbcnews.com

Stream live news 24/7, including NBC News NOW, Sky News, Dateline, Noticias, TODAY All Day, and more. Choose your local market and stream for free today.

Stream live news 24/7, including NBC News NOW, Sky News, Dateline, Noticias, TODAY All Day, and more. Choose your local market and stream for free today.
www.nbcnews.com www.nbcnews.com

Had no idea that NBC News Channel service still existed. I thought its a reference to the current NBC News Now the TV app and yes we talk about NBC owned stations getting segments from there.
 
www.ftvlive.com

Another Two Gone in New Haven ā€” FTVLive

This Nexstar station continues to shed peopleā€¦
www.ftvlive.com www.ftvlive.com

An Update staff from Nexstar's Hartford-New Haven affiliate have been removed

Lisa Carberg and Ken Houston are removed from Nexstar and yes its because of the Nexstar-Tegna merger fallout.

Also here is a job opening Nexstar has released for a position in DC for "The Hill" News outlet.

www.ftvlive.com

Good Luck ā€” FTVLive

Check out this Nexstar job posting and what it paysā€¦.
www.ftvlive.com www.ftvlive.com

nexstar.wd5.myworkdayjobs.com

Reporter, Breaking News

The Hill, a division of Nexstar Media Group, is looking for a journalist who prizes urgency and accuracy to join our team as a breaking news reporter. The Hill's breaking news reporters work as part of a team of journalists who cover DC newsmakers, policy decisions and key national news items...
nexstar.wd5.myworkdayjobs.com
 
thedesk.net

California AG warned Nexstar of probe into TEGNA merger before deal closed

Nexstar proceeded with its deal after federal approvals, prompting lawsuits from states and DIRECTV over antitrust concerns.
thedesk.net thedesk.net

More fallout between the State of California and Nexstar over the Tegna deal and antitrust allegations.

Attorneys with the State of California warned executives at Nexstar Media Group that their office was scrutinizing the broadcasterā€™s proposed $6.2 billion acquisition of TEGNA more than a week before the deal closed, according to court documents reviewed by The Desk.

The notice was issued by the California Department of Justice on March 10, nine days before the Federal Communications Commission (FCC) and the U.S. Department of Justice (DOJ) approved the transaction, which allowed Nexstar to instantaneously close on the deal that same day.

State prosecutors asked Nexstar to sign an agreement that the deal would not be consummated until after their investigation of the merger was complete, something that Nexstar either refused or ignored, according to a declaration filed by California Deputy Attorney General Connie Sung.

The declaration was part of an ongoing lawsuit filed by the attorneys general of California and several other states and by DIRECTV against Nexstar, which accuses the company of violating federal antitrust lawsuits by acquiring TEGNA.
Click to expand...
 
I doubt the California AG will be able to do much about this deal. That office certainly can seek to file briefs in the federal case, but that's about it. With all of the mergers that have been allowed, I think it would be tough to ultimately deny this one.
 
umfan said:
I doubt the California AG will be able to do much about this deal. That office certainly can seek to file briefs in the federal case, but that's about it. With all of the mergers that have been allowed, I think it would be tough to ultimately deny this one.
Click to expand...

On the other hand, if Nexstar wants to operate in the state of California, it has to abide by the laws of that state.
 
Eight states are plaintiffs in the suit, including Colorado. The Colorado attorney general, Phil Weiser, has been aggressiveā€¦and successfulā€¦at blocking other mergers.

Again, trying to present a fait accompli to a judge, as Nexstar is trying to do even when clearly knowing that there was a challenge to that act, is not likely to be viewed favorably by that judge. Nexstar tried to rush the merger through even after the suit had been filed. I wouldnā€™t want to be the attorney having to defend that one.
 
Apparently Nexstar is now asking the court if an injunction is entered, to allow them to continue with cost cutting measures at TENGA that they say TENGA had decided on before the merger agreement was entered.
www.mlex.com

Nexstar, Tegna urge court to allow cost-saving measures planned before merger | MLex | Specialist news and analysis on legal risk and regulation

MLex Summary: Local TV news broadcasters Nexstar Media and Tegna ā€” which have been enjoined from integrating their business operations post-merger via a temporary restraining order ā€” have asked a US court to permit Tegna cost reductions that had been planned before their merger agreement was...
www.mlex.com www.mlex.com
 


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