HR and future of work · Industry brief

M&A diligence is reshaping how deals survive state-level blocking.

Following the Nexstar-TEGNA and Paramount deals that faced state injunctions despite federal clearance, dealmakers are now front-loading people and culture audits into phase-one diligence to surface organizational red flags before they become state attorney general ammunition. The playbook focuses on severability risk—which workforce segments can be divested or restructured without triggering secondary litigation—and compensation transparency as a material deal assumption rather than a post-close integration task. Early structural remedies pitched to state courts now include pre-approved severance frameworks and labor-relations continuity provisions that weren't standard 18 months ago.

Expect HR diligence checklists to double in length by Q4 2026.