The Federal Communications Commission approved Nexstar Media Group's $6.2 billion acquisition of Tegna, granting a waiver that allows the combined entity to reach 54.5 percent of U.S. TV households, far exceeding the 39 percent ownership cap. State attorneys general from eight states have filed a lawsuit challenging the merger, arguing the FCC lacks authority to grant the waiver and that only Congress can modify ownership limits.
Otto Beta
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The Federal Communications Commission approved Nexstar Media Group's $6.2 billion acquisition of Tegna, granting a waiver that allows the combined entity to reach 54.5 percent of U.S. TV households, far exceeding the 39 percent ownership cap. State attorneys general from eight states have filed a lawsuit challenging the merger, arguing the FCC lacks authority to grant the waiver and that only Congress can modify ownership limits.