What We Know: Nexstar Media Group is attempting to purchase TEGNA. The combined company would reach roughly 80% of U.S. TV households. That well surpasses the 39% that is allowable under current law. Nexstar currently has a waiver to exceed that cap. Federal courts have blocked the move after regulators approved it. In a Fortune op-ed, Nexstar Media Group CEO Perry Sook argued that regulators should approve the move.
What They Said: “This transaction is vital to the future of local television and local journalism … The alternative is dire. A future where Americans rely on algorithm-driven feeds, viral content, and AI-generated summaries for information … A future where fewer institutions are dedicated to reporting facts, holding power to account, and fostering informed civic dialogue. No one wants their news from a chatbot or a rage-optimized social feed. Americans deserve more than a shrinking set of national outlets that do not reflect the diversity of their communities. This deal offers us all a chance to preserve real news options for future generations of Americans.” -Nexstar Media CEO Perry Sook
What’s At Stake: Sook’s argument is that digital media and Big Tech decimated the newspaper industry. Sook argues that local television will suffer the same fate if regulators fail to approve the move.
What It Means: The op-ed from Sook shows the all-out effort Nexstar Media is putting into its push to receive the approval. There has been plenty of pushback to the deal from various other companies. However, this marks one of the first times Perry Sook has commented publicly about why he believes the deal is imperative for the industry.
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Garrett Searight is Barrett Media’s News Editor, which includes writing daily news stories, features, and opinion columns. He joined Barrett Media in 2022 after a decade leading several radio brands in several formats, as well as a 5-year stint working in local television. In addition to his work with Barrett Media, he is a radio and TV play-by-play broadcaster. Reach out to him at Garrett@BarrettMedia.com.
