Technology
FCC Approves Nexstar Purchase of Tegna, Exceeding Ownership Limit
The Federal Communications Commission (FCC) approved Nexstar Media Group's $6.2 billion purchase of Tegna, granting the broadcast giant a waiver to exceed national station ownership limits. The deal, endorsed by President Trump, has faced opposition, with some state attorneys general challenging the merger in court.
The FCC's approval allows Nexstar to surpass the national limit on station ownership, a decision that has stirred controversy. The US Department of Justice also approved the deal. However, a group of state attorneys general is challenging the merger in court, questioning the FCC's authority to grant the waiver. Opponents argue that only Congress can modify the 39 per cent ownership limit. FCC Commissioner Brendan Carr supported allowing Nexstar to exceed the national station ownership limit. President Trump signaled his support for the merger on Truth Social in February.
Key Facts
- The FCC approved Nexstar Media Group’s $6.2 billion acquisition of Tegna.
- The FCC granted a waiver allowing Nexstar to exceed the national limit on station ownership.
- The Nexstar/Tegna combination will reach 80 per cent of TV households in the US.
- Applying the UHF discount, the combination will reach 54.5 per cent of US households.
- Some state attorneys general are challenging the merger in court.
- Opponents say the FCC lacks authority to grant the waiver.
- Nexstar said it closed the acquisition late yesterday, immediately after receiving FCC approval.
Primary Source
Research Sources
- Ars Technica — Trump FCC lets Nexstar buy Tegna and blow way past 39% TV ownership cap