FCC Chair Backs Nexstar-Tegna Merger: A Shift in Media Dynamics
The FCC Chair supports Nexstar's $3.54 billion bid to acquire Tegna, aiming to create the largest U.S. regional TV operator. This merger would require lifting ownership caps amid challenges for local media from streaming services. Discussions on revising ownership rules continue amidst debate about fair competition.
FCC Chair Brendan Carr has expressed approval for Nexstar's $3.54 billion acquisition of Tegna, a move that would establish the largest regional TV station operator in the United States. "I support that transaction. We're going to be moving forward," Carr stated during a media briefing on Wednesday.
The acquisition would vastly extend Nexstar's coverage to 80% of U.S. TV households, prompting a need for the FCC to lift existing caps on station ownership. As local media battles declining revenues due to the growing preference for streaming platforms, this merger could shake up the broadcast landscape.
Current FCC regulations limit ownership to cover not more than 39% of TV households, but the proposed merger could necessitate policy revisions without needing congressional approval. The National Association of Broadcasters, alongside conservative media executives, calls for a reevaluation of these ownership rules to level the playing field against tech giants.
Google News