US EditionFCC green-lights Nexstar's $6.2B merger with rival TV station owner Tegna
The merger creates a broadcaster reaching 80% of U.S. households, with Nexstar agreeing to sell six stations to meet approval conditions amid ongoing antitrust lawsuits.
- On Thursday, Nexstar completed its $6.2 billion takeover of rival Tegna after the Department of Justice and FCC signed off.
- By approving the deal, the FCC said it permits Nexstar to own less than 15% of television stations and acts mindful of today’s media marketplace.
- The combined company will own 265 TV stations across 44 states and Washington, D.C., reaching roughly 80 percent of American homes despite a 39 percent federal ownership cap.
- Legal and industry opposition includes eight states led by Rob Bonta, California Attorney General, and companies like DirecTV, Newsmax, and the CWA, while Nexstar thanked President Trump, FCC Chairman Brendan Carr, and the DOJ.
- By bringing the companies together, Nexstar will create a stronger enterprise better positioned to deliver local journalism and programming, while critics note newspapers closed by the dozen and the value of gumshoe reporting.
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78 Articles
Merger Poised to Shake Up Local TV News
America's biggest local TV owner just got a lot bigger, the Washington Post reports. Nexstar on Thursday said the Justice Department and the FCC signed off on its $6.2 billion purchase of rival Tegna, a move that will give it control of 265 stations and access to roughly 80%...
FCC says it granted ownership rule waivers to approve Nexstar-TEGNA deal
The front of the Federal Communications Commission building in Washington, D.C. (FCC public domain image) The Federal Communications Commission (FCC) on Thursday said it approved requests from Nexstar Media Group to waive a statutory cap on the number of TV stations one company may own so that the broadcaster could move forward with its acquisition of TEGNA. In an order released Thursday afternoon, the FCC acknowledged that, ordinarily, broadcas…
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