U.S. District Court Judge Troy Nunley of California's Eastern District issued a preliminary injunction Friday blocking Nexstar's acquisition of Tegna TV stations, siding with DirecTV in its lawsuit to halt the merger of the two broadcast groups. The 52-page ruling orders Nexstar to halt integration plans while the legal challenge proceeds. DirecTV, a major distributor of local broadcast signals, argued that permitting Nexstar to absorb Tegna's station portfolio would cause competitive harm sufficient to warrant court intervention before a full trial. The injunction does not resolve the underlying case but prevents Nexstar from advancing the transaction during litigation. For the broadcast industry, the ruling introduces material execution risk into one of the largest pending TV station consolidations, with implications for retransmission consent negotiations and local market concentration. Nexstar's ability to close the deal now depends on either overturning the injunction on appeal or prevailing at trial, making deal timeline and financing assumptions materially uncertain.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
