Overview
- Nexstar, which briefed investors Thursday on its first‑quarter call, said it is pushing an appeal and has hired antitrust attorney Beth Wilkinson as lead counsel.
- A U.S. district judge ordered Nexstar and Tegna to operate separately after DirecTV and a group of state attorneys general sued, citing the combined reach to about 80% of TV homes under an FCC ownership‑cap waiver.
- The company has a pending appeal in the Ninth Circuit, and a separate challenge to the FCC’s approval is before the D.C. Circuit after an emergency stay was denied for lack of jurisdiction.
- Citing the court order and uncertain timing for appeals or trial, Nexstar declined to issue long‑term guidance, and executives said each company will keep running its own plan for now.
- Quarterly results showed $1.4 billion in revenue and $160 million in net income, with about $106 million in incremental revenue coming from Tegna following the March 19 close.