Nexstar asks states, including Colorado, for $150M bond to cover damages from order slowing merger with Tegna

The Colorado Sun: Allowing the $6.2 billion tie up of Nexstar Media Group and Tegna Inc. to proceed is bad for competition and bad for local journalism, lawyers for eight states and DirecTV argued in court Tuesday, as they asked for an antitrust case to proceed that would stop the megamerger. 

But putting the toothpaste back in the tube nearly three weeks after closing on the deal would be costly for the TV giant, costs Nexstar wants passed along to those fighting the deal.

Lawyers for Nexstar asked a federal court judge in California to force DirecTV and the attorneys general of eight states, including Colorado, to fund a $150 million bond to cover the losses it claims it will incur if the merger is further delayed. Nexstar took on a reported $5.1 billion in debt at closing.

Visit The Colorado Sun for more.

Subscribe to Our Blog

Loading