M&A

BUSINESS Cash and stock deal valued at $22B

The previously announced deal involved stations in five markets May 15, 2026

Station group also promotes execs in government relations, human resources and legal departments

The agency also granted waivers of ownership rules in its approval of deals with subsidiaries of SagamoreHill Broadcasting II and Block Communications

`Under binding Circuit precedent, this Court lacks jurisdiction to review an order issued by the Commission’s staff,’ the regulator said

Regulatory and Standards Democratic commissioner says regulator shouldn’t dole out ‘another billionaire buddy bypass’ on foreign-ownership rules

Atlanta-based Gray announced last August that it was buying the stations for $171 million

In its Q1 earnings call, CEO Chris Ripley said, ‘We’re going to head towards a marketplace where you’ve got two large groups’

Nexstar responded by saying the alternative to the deal is "the demise of your local broadcast station"

The swaps in mid- and small-sized markets create new duopolies for the station groups