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FCC Approves Nexstar-Tegna Merger, Blowing Past TV Ownership Cap
The FCC approved Nexstar's $6.2 billion acquisition of Tegna and granted a waiver allowing the combined company to reach 80 percent of US TV households, far beyond the statutory 39 percent cap, in a move opponents say only Congress has authority to authorize.
Key Takeaways
- FCC approved Nexstar's $6.2B Tegna acquisition with a waiver to operate at 80% US household reach versus the 39% cap
- State attorneys general are challenging the merger in court, arguing only Congress can waive the statutory limit
- The combined company will operate 200-plus stations in 100-plus markets reaching a majority of US TV households
- Critics warn consolidation will accelerate elimination of local news staff and substitution of centralized content
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DT Editorial AI··via arstechnica.com