FCC Chair Brendan Carr’s proposal drew immediate praise from Nexstar Media Group. The broadcaster called the FCC review a long-overdue modernization effort.
What We Know: The FCC plans to vote on August 6th to repeal the national 39% television ownership cap and replace it with a case-by-case review process. Chairman Brendan Carr disclosed the proposal in a Wednesday morning op-ed published by Breitbart. Nexstar Media Group quickly endorsed the move, arguing the current ownership restrictions no longer reflect today’s media landscape. The timing is especially notable because Nexstar is pursuing a multi-billion-dollar acquisition of TEGNA. If approved, that transaction would expand Nexstar’s reach to roughly 80% of U.S. television households. That makes the FCC’s ownership review particularly significant for the company’s long-term strategy.
What They Said: “It’s been over two years since Chairman Carr astutely observed, ‘We are at a break glass moment for America’s broadcasters.’ The FCC’s decision to review the national television ownership cap is a welcome and long-overdue step toward bringing broadcast regulation into the modern media marketplace. These rules were last updated before Netflix streamed a single movie, before the first iPhone, and before Instagram existed, and they continue to single out local broadcasters based on a competitive landscape that disappeared with the VCR. No one would suggest limiting the reach of YouTube, Amazon, or CNN, yet local broadcasters are still forced to compete under rules written for a different century. Modernizing these outdated regulations will help ensure broadcasters can continue investing in local journalism and providing the free, trusted news and information that communities across America rely on every day.” – Nexstar Media Group spokesperson
What Remains Unclear: The FCC hasn’t explained how it would evaluate transactions exceeding the current ownership cap. It’s also unclear whether the commission would ultimately determine that Nexstar’s acquisition of TEGNA serves the public interest.
What It Means: The FCC’s review could have immediate implications for one of the television industry’s biggest pending deals. It could also open the door to further consolidation inside the local TV ownership realm. The August 6th vote could signal a major shift in how regulators balance competition, local broadcasting, and industry consolidation.
Barrett Media produces daily content on the music, news, and sports media industries. Sign up for our newsletters to stay updated and get the latest information right in your inbox.
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.