Tegna surges as FCC approves Nexstar acquisition

U.S. regional TV operator Tegna's TGNA.N shares rise 9.3% to $21.90 premarket

Federal Communications Commission approved $3.54 bln sale of TGNA to Nexstar NXST.O on Thursday

"This transaction is essential to sustaining strong local journalism in the communities we serve" - NXST CEO Perry Sook

Acquisition, if not reversed by courts, will expand NXST's presence to cover 80% of U.S. households

On Wednesday, eight states filed suit in a U.S. District Court in California to block deal, stating it would lead to higher pay-TV prices and reduce jobs

Up to last close, TGNA has risen 3.2% this year