The Federal Communications Commission has signed off on broadcast station owner Nexstar’s $6.2 billion deal to acquire rival company Tegna, a merger that would create the largest operator of local television stations in the country.
In a news release Thursday, FCC Chairman Brendan Carr said the agency waived a rule that bars a single company from owning TV stations reaching more than 39% of U.S. households. The combined entity would cover at least 60%.
“Waiving that rule here is consistent with longstanding FCC authorities and doing so promotes the underlying purpose of the FCC’s media regulations by promoting competition, localism, and diversity,” Carr said in a statement.
The FCC’s announcement came less than a day after a coalition of attorneys general for eight states, including California and New York, filed a lawsuit seeking to block the merger, arguing that the tie-up violates federal antitrust law.
Nexstar also secured regulatory approval from the Department of Justice, Nexstar chief executive Perry Sook said in a news release. The Justice Department did not immediately respond to a request for comment.
“This transaction is essential to sustaining strong local journalism in the communities we serve,” Sook said in a statement, adding that Nexstar will be a “stronger, more dynamic enterprise” after the two companies are brought together.
“We are grateful to President Trump, Chairman Carr, and the DOJ for recognizing the dynamic forces shaping the media landscape and enabling this transaction to move forward,” Sook said.
Carr was appointed to chair the FCC at the start of President Donald Trump’s second term. He previously served as one of the agency’s commissioners.
Anna M. Gomez, the lone Democrat on the FCC, blasted the agency’s decision to sign off on the Nexstar-Tegna deal, criticizing what she characterized as a lack of transparency around the approval process.
« The FCC has once again chosen bureaucratic cover over public accountability, » Gomez said in a statement. « This merger was approved behind closed doors with no open process, no full Commission vote, and no transparency for the consumers and communities who will bear the consequences. »
This is a developing story. Please check back for updates.
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