The court granted the States' motion finding that Nexstar violated the preliminary injunction by placing current or former Nexstar executives on TEGNA's Board of Directors. The court ordered regular reporting to the States and appointed a special master to oversee compliance.
The court ordered Nexstar to provide regular reporting to the States and appointed a special master to oversee compliance with the preliminary injunction.
In-house legal teams should review any merger or acquisition agreements involving broadcast media companies to ensure compliance with court orders and hold-separate provisions. Specifically, they should examine clauses related to board composition, executive appointments, and reporting obligations to avoid violations similar to those found in this case. Additionally, they should ensure that any agreements include mechanisms for compliance monitoring and reporting to regulatory authorities.
Entity
Nexstar Media Group, Inc.
Industry
Media & Entertainment"Nexstar Media Group, Inc."
"the court granted the States' motion raising concerns about actions by TEGNA Inc. (TEGNA) and Nexstar Media Group, Inc. (Nexstar) that violate the court’s hold-separate order."
Attorney General Tong joined a coalition of 17 attorneys general in sending letters to the Office of the Comptroller of the Currency and the Federal Reserve Board, urging them to deny Opportunity Financial's application to acquire BNC National Bank. The merger would grant OppFi a national bank charter, allowing it to circumvent state lending laws and charge triple-digit interest rates, posing risks to consumers and the banking system.
Attorney General William Tong co-led a coalition of 34 attorneys general in a letter to congressional leaders urging them to preserve the federal redefinition of hemp and reject efforts to weaken reforms addressing intoxicating hemp-derived products. The coalition warns that reopening the loophole would create regulatory uncertainty, compromise public safety, and allow unregulated intoxicating hemp products to return to the marketplace.
$400.0M
Minnesota Attorney General Keith Ellison joined a coalition of 43 states and territories in announcing a $400 million settlement in principle with Sandoz Inc. to resolve allegations that the generic drug manufacturer engaged in conspiracies to artificially inflate and manipulate prices, reduce competition, and unreasonably restrain trade for numerous generic prescription drugs. Sandoz will pay approximately $469 million total including prior settlements, and has agreed to injunctive terms and internal reforms.
Attorney General William Tong joined a coalition of 23 states and the District of Columbia in suing the Trump administration over policy changes by the Administration for Children and Families (ACF) that would allow broad sharing of TANF recipients' sensitive personal data across federal agencies and potentially private organizations. The lawsuit alleges violations of the Administrative Procedure Act and the Spending Clause, seeking to block the policy.
$400.0M
Attorney General Tong led a coalition of 43 states and territories in announcing a $400 million settlement in principle with Sandoz Inc. to resolve allegations that the generic drug manufacturer engaged in conspiracies to artificially inflate and manipulate prices, reduce competition, and unreasonably restrain trade. Sandoz will pay approximately $469 million total and implement internal reforms to ensure fair competition and compliance with antitrust laws.
Attorney General William Tong and a bipartisan coalition of 49 other attorneys general submitted comments to the FCC urging stronger Know Your Customer (KYC) rules to prevent illegal robocalls. The coalition recommends requiring originating voice service providers to understand customers' business practices, apply KYC standards to all providers regardless of size, and collect additional information on high-risk customers. The action is part of Phase 2 of Operation Robocall Roundup.