Technology
FCC Approves Nexstar's Tegna Acquisition, Exceeding Ownership Limit
The Federal Communications Commission (FCC) approved Nexstar Media Group's US$6.2 billion purchase of Tegna, granting a waiver to exceed national television station ownership limits. The deal, endorsed by President Trump, has faced scrutiny from state attorneys general and concerns about the FCC's authority to grant such waivers.
The FCC has approved Nexstar Media Group's US$6.2 billion acquisition of Tegna, allowing the broadcast giant to surpass the national limit on station ownership. Nexstar announced the deal closed yesterday, immediately following FCC approval. President Trump had signaled his support for the merger on Truth Social as early as February 7. While the US Department of Justice also approved the deal, some state attorneys general are challenging the merger in court. Opponents of the deal contend that the FCC lacks the authority to grant the waiver, arguing that only Congress can modify the 39 percent ownership limit.
Key Facts
- The FCC approved Nexstar Media Group's US$6.2 billion acquisition of Tegna.
- The approval includes a waiver allowing Nexstar to exceed the national station ownership limit.
- The Nexstar/Tegna combination will reach 80 percent of TV households in the US.
- The FCC calculates Nexstar will own fewer than 15 percent of TV stations.
- President Trump endorsed the merger on Truth Social.
- The US Department of Justice approved the deal.
- State attorneys general are challenging the merger in court.
Primary Source
Research Sources
- Ars Technica — Trump FCC lets Nexstar buy Tegna and blow way past 39% TV ownership cap