Fcc Greenlights Nexstar's $6.2b Merger With Rival Tv Station Owner Tegna

The Federal Communications Commission has signed disconnected connected broadcast position proprietor Nexstar’s $6.2 cardinal woody to get rival institution Tegna, a merger that would create nan largest usability of section tv stations successful nan country.

In a news merchandise Thursday, FCC Chairman Brendan Carr said nan agency waived a norm that bars a azygous institution from owning TV stations reaching much than 39% of U.S. households. The mixed entity would screen astatine slightest 60%.

“Waiving that norm present is accordant pinch longstanding FCC authorities and doing truthful promotes nan underlying intent of nan FCC’s media regulations by promoting competition, localism, and diversity,” Carr said successful a statement.

The FCC’s announcement came little than a time aft a conjugation of attorneys wide for 8 states, including California and New York, filed a suit seeking to artifact nan merger, arguing that nan tie-up violates national antitrust law.

Nexstar besides secured regulatory support from nan Department of Justice, Nexstar main executive Perry Sook said successful a news release. The Justice Department did not instantly respond to a petition for comment.

“This transaction is basal to sustaining beardown section publicity successful nan communities we serve,” Sook said successful a statement, adding that Nexstar will beryllium a “stronger, much move enterprise” aft nan 2 companies are brought together.

“We are grateful to President Trump, Chairman Carr, and nan DOJ for recognizing nan move forces shaping nan media scenery and enabling this transaction to move forward,” Sook said.

Carr was appointed to chair nan FCC astatine nan commencement of President Donald Trump's 2nd term. He antecedently served arsenic 1 of nan agency's commissioners.

Anna M. Gomez, nan lone Democrat connected nan FCC, blasted nan agency's determination to motion disconnected connected nan Nexstar-Tegna deal, criticizing what she characterized arsenic a deficiency of transparency astir nan support process.

"The FCC has erstwhile again chosen bureaucratic screen complete nationalist accountability," Gomez said successful a statement. "This merger was approved down closed doors pinch nary unfastened process, nary afloat Commission vote, and nary transparency for nan consumers and communities who will carnivore nan consequences."