Nexstar Media Group will operate TEGNA as a subsidiary business while a handful of lawsuits play out in court, according to sources familiar with the company’s plan and statements made to financial regulators this week.
The decision to operate TEGNA as a subsidiary business for now will allow Nexstar greater flexibility to spin out or otherwise separate the business if there are signs that judges overseeing a handful of lawsuits are likely to find in favor of those challenging the merits of the combination, the sources affirmed.
Comments
No comments on this item Please log in to comment by clicking here