Nexstar has told a federal court that the temporary restraining order freezing its planned $5.9 billion merger with Tegna threatens to imperil assets and business operations at both companies, asking the judge to reconsider the injunction it said was issued without adequate factual findings.
The filing, Nexstar’s first substantive response to the court’s order halting the deal, said the injunction’s breadth and timing create immediate commercial and contractual risks that could cause irreparable harm to shareholders, creditors and third parties.
In the filing, Nexstar argued the court’s order exceeds what is necessary to preserve the status quo and lacks a tailored record showing why a complete freeze is warranted. The company said the injunction has disrupted integration planning, jeopardized financing and could trigger breaches of third-party agreements that depend on predictable operational and capital plans. Nexstar warned that the effects are not limited to corporate negotiations but could cascade to local stations, employees, advertisers and viewers.
Nexstar’s lawyers emphasized the merger’s conditional structure, noting regulatory approvals and customary closing conditions remain outstanding, and contended the injunction should be narrowed to prevent collateral damage. The filing asks the court either to lift the restraining order or to modify it so routine business activities and limited integration steps that do not impair the court’s ability to adjudicate the underlying litigation can proceed.
The company also stressed timing concerns: certain financing commitments and contracts underlying the transaction include deadlines and covenants that the parties cannot extend indefinitely without additional cost or risk. Nexstar said forced delays could increase financing costs, lead counterparties to demand renegotiation or termination, and reduce the contemplated deal’s value — outcomes it characterized as precisely the kind of irreparable harm preliminary-injunction standards are meant to avoid.
In the filing, Nexstar argued the court’s order exceeds what is necessary to preserve the status quo and lacks a tailored record showing why a complete freeze is warranted. The company said the injunction has disrupted integration planning, jeopardized financing and could trigger breaches of third-party agreements that depend on predictable operational and capital plans. Nexstar warned that the effects are not limited to corporate negotiations but could cascade to local stations, employees, advertisers and viewers.
The company also stressed timing concerns: certain financing commitments and contracts underlying the transaction include deadlines and covenants that the parties cannot extend indefinitely without additional cost or risk. Nexstar said forced delays could increase financing costs, lead counterparties to demand renegotiation or termination, and reduce the contemplated deal’s value — outcomes it characterized as precisely the kind of irreparable harm preliminary-injunction standards are meant to avoid.