NXST News & Events

Catch up on the weekend's top five stories with this list compiled by The Fly: 1) Iranian state media announced that the Strait of Hormuz has been closed. In a state on X, the state media said: "Iran's Central Military HQ: Iran agreed to allow a limited number of ships to pass through the Strait of Hormuz according to agreements. #But U.S. did not fulfill their obligations. So, the Strait of Hormuz is now #closed again and passage requires IRAN approval." 2) Eli Lilly (LLY) is in advanced discussions to acquire Kelonia Therapeutics for over $2B in a deal that could come as soon as Monday, Lauren Thomas of The Wall Street Journal reports, citing people familiar with the matter. The deal price could include additional consideration if specific milestones are reached by Kelonia, the sources added. 3) Nexstar (NXST) released a statement after a judge issued a preliminary injunction issued in connection with the company's acquisition of Tegna, which reads: "This transaction closed more than four weeks ago following receipt of all required regulatory approvals from the Federal Communications Commission and the U.S. Department of Justice. Nexstar Media Group now owns Tegna and has taken steps consistent with the Court order that has been in effect. For nearly thirty years, Nexstar has provided free over-the-air access to all its broadcast stations - local news, weather, and community-focused programming alongside major network programming. This pro-competitive transaction will make local stations stronger and support continued investment in local journalism and fact-based news. We will appeal today's decision and look forward to presenting our case on its merits before the Ninth Circuit Court of Appeals." 4) AST SpaceMobile (ASTS) addresses today's orbital launch of BlueBird 7 on the New Glenn launch vehicle. During the New Glenn 3 mission, BlueBird 7 was placed into a lower than planned orbit by the upper stage of the launch vehicle. While the satellite separated from the launch vehicle and powered on, the altitude is too low to sustain operations with its on-board thruster technology and will de-orbited. The cost of the satellite is expected to be recovered under the company's insurance policy. 5) Google (GOOGL) is in discussions with Marvell (MRVL) to develop two new chips that will focus on running AI models more efficiently, The Information reports.

Nexstar released a statement after a judge issued a preliminary injunction issued in connection with the company's acquisition of Tegna, which reads: "This transaction closed more than four weeks ago following receipt of all required regulatory approvals from the Federal Communications Commission and the U.S. Department of Justice. Nexstar Media Group now owns Tegna and has taken steps consistent with the Court order that has been in effect. For nearly thirty years, Nexstar has provided free over-the-air access to all its broadcast stations - local news, weather, and community-focused programming alongside major network programming. This pro-competitive transaction will make local stations stronger and support continued investment in local journalism and fact-based news. We will appeal today's decision and look forward to presenting our case on its merits before the Ninth Circuit Court of Appeals."