March 19 (Reuters) - A group of eight states filed suit
late Wednesday in U.S. District Court in California to block
Nexstar's
proposed $3.54 billion acquisition of Tegna ( TGNA ) that would
make the combined entity the largest U.S. broadcast station
group.
California Attorney General Rob Bonta said the proposed
merger was illegal and would lead to higher pay-TV prices and
reduce jobs.
"When broadcast media is owned by a handful of companies, we
get fewer voices, less competition, and communities lose the
critical check on power that local journalism delivers," Bonta
said.
Last month, Federal Communications Commission Chair Brendan
Carr said he supported the deal and would be moving forward to
approve it after President Donald Trump publicly backed the
merger.