Nexstar And State AGs Outline Plans For $1,500-Per-Hour Special Master To Oversee Compliance In Antitrust Case, Disagree On Some Key Details
Nexstar and the state attorneys general suing to block its merger with Tegna have jointly proposed how a court-appointed "special master" should oversee compliance with a federal judge's order keeping the two broadcasters separate, though they remain at odds over several key terms. The judge had already ruled this month that Nexstar breached his preliminary injunction by keeping executives on Tegna's board, prompting tighter oversight measures despite Nexstar having already completed the roughly $6 billion deal that would create a near-260-station broadcasting giant.
The parties have nominated Charles J. Stevens, a former US attorney and ex-Gibson Dunn partner, to fill the role at a rate of $1,500 per hour, but disagree on several details: the plaintiffs want monthly records of all communications between Nexstar and Tegna's senior leadership, which Nexstar calls overly burdensome, and the two sides differ on whether the special master or Judge Troy Nunley should have final say on compliance rulings. They also disagree on costs, with the state AGs and DirecTV wanting Nexstar to pay the full bill while Nexstar proposes an 75/25 split. Nexstar is separately appealing the injunction, with oral arguments before the Ninth Circuit expected in November or December.
- Nexstar and state AGs propose a $1,500/hour special master for merger oversight.
- Sides disagree on communication records, authority and who pays costs.
- Nexstar's injunction appeal heads to the Ninth Circuit later this year.
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