FCC lets Nexstar buy Tegna, creating Trump-approved broadcaster reaching 80% of US

In a significant move, the Federal Communications Commission (FCC) has authorized Nexstar Media Group's $6.2 billion acquisition of Tegna, allowing the broadcasting powerhouse to surpass the national ownership limit for TV stations. This approval was granted through a waiver, enabling Nexstar to expand its reach beyond the established regulations. Nexstar confirmed that it completed the acquisition shortly after receiving the FCC's nod. This merger also received the green light from the US Department of Justice, but it faces legal challenges from a coalition of state attorneys general who aim to reverse the decision. Critics argue that the FCC overstepped its authority by granting the waiver, insisting that only Congress has the power to modify the 39 percent ownership cap. While the FCC asserts that Nexstar will control fewer than 15 percent of TV stations, the ownership cap is assessed based on the percentage of households in the US that a single entity's stations can reach. The combination of Nexstar and Tegna is poised to cover 80 percent of TV households in the country, which equates to 54.5 percent when considering the “UHF discount.” The anticipated approval had been hinted at since early February, particularly after former President Trump publicly supported the merger on social media, asserting the need for greater competition against what he termed the “Fake News National TV Networks.” In his post, Trump emphasized that facilitating deals like Nexstar’s would enhance competition and improve the quality of news coverage. FCC Chairman Brendan Carr echoed Trump's sentiments, sharing the former president's post and criticizing the dominance of major networks like Comcast and Disney. He argued that these corporations have held too much power over media programming without adequate checks. Carr's backing of Nexstar’s expansion could further solidify his relationship with the media giant in his ongoing efforts to reshape national news coverage to favor Trump. Previously, Nexstar had even taken steps to align with Carr’s stance by temporarily pulling Jimmy Kimmel's show from its ABC affiliates after Carr issued warnings regarding broadcasting licenses.