DirecTV Revives Suit Accusing Nexstar of Price-Fixing Conspiracy

DirecTV LLC won its appeal to reinstate a lawsuit accusing Nexstar Media Group Inc. of manipulating fees paid by satellite providers to carry popular programs, after the Second Circuit reversed a ruling that the company lacked antitrust standing.

“Lost profits from a reduction in output represent a cognizable antitrust injury, and DirecTV has plausibly alleged that its lost profits flowed directly from the output-reducing effects of the alleged price-fixing conspiracy,” Judge Steven J. Menashi said in a Tuesday opinion. “Additionally, we conclude that DirecTV is an efficient enforcer of the antitrust laws.

The ruling means Nexstar, the country’s largest owner ...