Nexstar seeks approval of Tegna deal from FCC

Nexstar Media Group (NXST) announced that in connection with its pending acquisition of TEGNA (TGNA), the companies have filed applications with the Federal Communications Commission seeking consent to the transfer of the broadcast licenses currently controlled by TEGNA to Nexstar. The applications address why, if certain of the FCC’s rules governing television ownership remain in effect, waiver of the rules would serve the public interest, especially in the local communities Nexstar’s stations will serve. In connection with the filing, Nexstar’s Founder, Chairman, Chief Executive Officer, Perry Sook, released the following statement: “Nexstar’s acquisition of TEGNA is vitally important to the future of local television and local journalism. We are grateful that the Trump administration and the FCC recognize that the current television ownership regulations are outdated and do not reflect the competitive media landscape as it has evolved over the past 25+ years. Like the Trump administration, we are focused on achieving deregulation, and we continue to advocate for the elimination of the antiquated constraints on local television ownership as the best solution to level the competitive playing field for all media.”