Nexstar Media Group, seeking to clear a $6.2 billion contract with rival TV station group Tegna, formally filed an application with the FCC on Tuesday that includes a request for an exemption from the station’s 39% ownership cap on local TV stations.
Nexstar is the largest owner of local television stations in the United States, with 201 owned or affiliated stations in 116 markets. The partnership with Tegna, which has 64 stations in 51 markets, will give the combined company 265 stations and expand Nexstar’s reach to 54.5% of U.S. TV homes, exceeding the FCC’s ownership limit of 39%.
Meanwhile, Sinclair, the second-largest television station group owner, acquired an 8.2% stake in EW Scripps Inc. on Monday, revealing that Sinclair has been in talks for several months about acquiring Scripps.
Nexstar and Tegna have filed an application with the FCC seeking consent to transfer the broadcast licenses currently controlled by Tegna to Nexstar. According to Nexstar, “This filing explains why, if some of the FCC rules governing television ownership remain in effect, a waiver of those rules would serve the public interest, particularly the communities served by Nexstar’s stations.” An edited version of Nexstar’s filing is available at this link.
In June, the FCC, under President Trump-appointed Chairman Brendan Carr, began a process seeking public comment on whether to “modify, maintain, or eliminate” the 39% national audience cap on local television ownership.
In connection with Nexstar’s FCC filing, Nexstar Chairman and CEO Perry Sook (pictured above) said in a statement: “Nexstar’s acquisition of Tegna is critical to the future of local television and local journalism. We are grateful that the Trump Administration and the FCC recognize that we are not showing the right way to broadcast television. Like the Trump Administration, we are committed to achieving these goals.”We continue to advocate for deregulation and eliminating outdated restrictions on local television ownership as the best solution to leveling the playing field for all media. ”
“While we wait for the FCC to complete its rulemaking process (on the 39% ownership cap), we filed a waiver request to avoid significant barriers to fair competition. We filed a waiver request to avoid significant barriers to fair competition from legacy media and Big Tech. These companies are massive corporations with vast resources that have enormous influence reaching into the pockets, wallets, and backpacks of every American around the world,” Suk said in a statement.
The executive continued: “Let me be clear: In an age of disinformation and political agendas, we stand against fake news. Our news is delivered by trusted, familiar voices – journalists who live in our communities, not chatbots or social media influencers. Yet, outdated regulatory constraints prevent us from broadcasting trusted local news and programming to hundreds of communities across the country.”
Last month, Nexstar extended Sook’s employment contract until March 31, 2029.
In addition to local television stations, Nexstar owns national television properties The CW, national news network NewsNation, multicast networks Antenna TV and Rewind TV, and a 31.3% stake in TV Food Network. The company’s digital assets include local television station websites and political news site The Hill.
In September, Nexstar made headlines for its decision to preempt Jimmy Kimmel’s late-night show (along with rival Sinclair) on its ABC affiliate because of Kimmel’s comments about the MAGA movement’s attempts to score political points from the assassination of Charlie Kirk. With the deal with Tegna pending, Nexstar’s decision was seen as an attempt to curry favor with the FCC’s Kerr, who had vigorously criticized Kimmel’s comments and suggested local TV stations could lose their broadcast licenses if Kimmel was not taken off the air. Nexstar denied that Kerr’s comments influenced its decision to pre-empt Kimmel’s show. Three days after ABC reinstated Kimmel, Nexstar agreed to begin airing “Jimmy Kimmel Live!” Again (as well as Sinclair). Nexstar said Disney executives are taking a “constructive approach to addressing our concerns.” In a Sept. 26 memo to Nexstar employees co-authored with President and Chief Operating Officer Mike Beard, Sook also said that Nexstar’s blackout of Kimmel was not a violation of the First Amendment, saying, “No one has an unrestricted right to say whatever they want on a talk show.”
