The FCC has approved the deal merging Nexstar Media Group and TEGNA, with Nexstar stating is has now closed on the deal in the aftermath.
The Department of Justice and FCC both signed off on the acquisition. The deal now gives Nexstar Media Group ownership of 265 local TV stations around the country.
With the approval of the deal, Nexstar Media Group now reaches roughly 80% of U.S. TV households. That figure well surpasses the 39% cap limited by federal regulations. That was a point of contention from dissenters, who had argued that the deal wasn’t in the best interest of Americans and television consumers. On Thursday, eight state attorneys general launched a lawsuit seeking to block the approval.
However, with both the FCC and DOJ signalling their approval, the deal is moving forward.
In a statement, Nexstar Media Group founder and CEO Perry Sook shared gratitude for government regulators approving the deal.
“This transaction is essential to sustaining strong local journalism in the communities we serve,” Sook said. “By bringing these two outstanding companies together, Nexstar will be a stronger, more dynamic enterprise—better positioned to deliver exceptional journalism and local programming with enhanced assets, capabilities, and talent.
“We are grateful to President Trump, Chairman Carr, and the DOJ for recognizing the dynamic forces shaping the media landscape and enabling this transaction to move forward,” concluded Sook.
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