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Story summary
- Nexstar Media Group finalized its $6.2 billion acquisition of TEGNA Inc., creating the largest U.S. broadcaster.
- The merger received approval from the Federal Communications Commission (FCC) and the Department of Justice (DOJ), enabling Nexstar to exceed the 39% ownership cap.
- Eight state attorneys general and DirecTV filed lawsuits, arguing the deal would raise prices and reduce competition.
- Nexstar's chief executive officer asserts the merger will enhance local journalism.
