Nexstar Media Group has officially filed applications with the FCC in an effort to clear its $6.2 billion acquisition of rival TV broadcast station group Tegna. The applications include a request for a waiver of the agency’s 39% ownership cap for local TV broadcasters. Nexstar, already the largest local TV station owner in the U.S., would significantly increase its reach by acquiring Tegna’s 64 stations in 51 markets. This would bring the combined company to a total of 265 stations, surpassing the FCC’s ownership limit of 39% to reach 54.5% of U.S. TV homes.
On the other hand, Sinclair, the second-largest TV station group owner, has disclosed that it has acquired an 8.2% stake in the E.W. Scripps Co. and has been in talks for several months about potentially buying Scripps.
Nexstar and Tegna have submitted applications to the FCC seeking consent for the transfer of broadcast licenses from Tegna to Nexstar. Nexstar’s filings address the need for a waiver of certain FCC rules governing television ownership to serve the public interest in the local communities where Nexstar’s stations operate.
In a statement, Nexstar chairman and CEO Perry Sook emphasized the importance of Nexstar’s acquisition of Tegna for the future of local television and journalism. Sook expressed gratitude for the Trump administration and the FCC’s recognition that current television ownership regulations are outdated and do not reflect the evolving media landscape. He advocated for the elimination of regulatory constraints on local television ownership to level the competitive playing field against legacy media and Big Tech.
While awaiting the FCC’s decision on the 39% ownership cap, Nexstar has submitted waiver requests to overcome barriers that prevent fair competition. Sook highlighted the importance of delivering trusted local news and programming to communities across the country in an age of disinformation and political agendas.
Nexstar’s diverse portfolio includes local TV stations, national television properties like The CW and NewsNation, multicast networks, and digital assets such as local TV station websites and The Hill political news site. The company recently extended Sook’s employment agreement through 2029.
In September, Nexstar made headlines for preempting Jimmy Kimmel’s late-night show on its ABC affiliates, a decision also made by rival Sinclair. This move was seen as an attempt to align with FCC chairman Brendan Carr, who had criticized Kimmel’s remarks about the MAGA movement. Despite the controversy, Nexstar eventually resumed airing “Jimmy Kimmel Live!” after Disney executives addressed their concerns.
Overall, Nexstar’s acquisition of Tegna and its efforts to navigate FCC regulations reflect the rapidly changing landscape of the media industry. The company remains committed to delivering trusted local news and programming to viewers across the country.
