States preparing to challenge Nexstar-Tegna tie-up, WSJ reports

A coalition of states, which include California, Colorado and New York, is preparing to challenge Nexstar’s (NXST) planned acquisition of rival broadcaster Tegna (TEGNA) (TGNA), people familiar with the matter told The Wall Street Journal’s Dave Michaels and Dana Mattioli. The states would sue on antitrust grounds, believing the deal would result in too much concentration in some local TV markets, and would proceed with the lawsuit if the deal gets regulatory clearance from the Federal Communications Commission, the report added.