Why Do Republican AGs Want to Stop a Pro-Consumer Business Deal?
Thirteen state Attorneys General have filed suit to block an FCC-approved merger/acquisition between two media companies that would promote fair competition while preserving high-quality local journalism and diversity of opinion. Sadly, it’s not that surprising to see Democrats oppose a large business deal, no matter how much sense it makes, but I don’t understand why three Republican AGs are going along with them.
Last year Nexstar Media Group, Inc. announced an agreement to acquire TEGNA Inc. for $6.2 billion. The resulting company would own 265 local television stations across the country, most of which are local affiliates of one of the “Big Four” networks: ABC, CBS, Fox, and NBC. These are the traditional networks that many broadcast TV viewers depend on for local news, weather forecasts, and critical information about their towns, nation, and the world.
The Federal Communications Commission and the Department of Justice both formally reviewed and okayed........
