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The Federal Communications Commission (FCC) on March 19 approved Nexstar’s $6.2 billion purchase of local broadcast station owner Tegna amid legal challenges from eight states opposing the deal.
FCC said the deal would enable “broadcast TV stations to counter the growing power that national programmers have amassed in recent years,” while allowing Nexstar to own less than 15 percent of TV stations.
“By approving this transaction, which allows Nexstar to own less than 15 percent of television stations, the FCC acts mindful of the media marketplace that [exists] today—not the one from decades past—and the agency ensures that these broadcasters have the resources to continue investing in their local news operations,” FCC Chairman Brendan Carr said in a statement….
FCC said the deal would enable “broadcast TV stations to counter the growing power that national programmers have amassed in recent years,” while allowing Nexstar to own less than 15 percent of TV stations.
“By approving this transaction, which allows Nexstar to own less than 15 percent of television stations, the FCC acts mindful of the media marketplace that [exists] today—not the one from decades past—and the agency ensures that these broadcasters have the resources to continue investing in their local news operations,” FCC Chairman Brendan Carr said in a statement….
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