Jeff Shell to step down as Paramount president after legal battle

Paramount President Jeff Shell agreed to exit the company after being entangled in a legal battle with a controversial Las Vegas gambler and self-styled “fixer.” Paramount announced his departure Wednesday after the two sides negotiated an amicable resolution to the drama. Paramount said its external review into Shell’s conduct, initiated by Paramount’s board of directors,…

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Nexstar finalizes acquisition of Tegna’s TV stations, despite opposition

KTLA-owner Nexstar Media Group said it has closed its deal to acquire rival Tegna’s TV stations, despite opposition from eight state attorneys general who filed a lawsuit to block the merger. The acquisition was approved by the Federal Communications Commission’s Media Bureau and the Justice Department, Irving, Texas-based Nexstar said Thursday. “This transaction is essential…

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