FCC moves to lift TV ownership caps, paving way for Nexstar's $6.2 billion acquisition of Tegna

Nexstar Media Group has filed an application with the U.S. Federal Communications Commission to acquire Tegna Inc. in a deal valued at about $6.2 billion. If approved, the combined company would own 265 full‑power television stations, reaching more than 60% of American households—far above the current 39% national ownership cap.

The FCC is considering a reform that would eliminate the rigid national cap on broadcast‑station ownership and replace it with a case‑by‑case review. Proponents argue the change will give financially strained local stations the scale needed to survive competition from streaming platforms and national networks. Critics, including media‑watch groups, contend the move would violate longstanding law, concentrate media ownership, threaten local news resources, and raise concerns about political influence.

The proposed regulatory shift is expected to be voted on in early August, directly affecting the Nexstar‑Tegna merger and the broader U.S. television market.