Nexstar said that they had closed their acquisition of Tegna following approvals from the FCC and the Justice Department.
The merger, which will create a broadcast station giant, was given the greenlight by the FCC’s Media Bureau in an announcement on Thursday evening.
Perry Sook, the CEO of Nexstar, said in a statement, “This transaction is essential to sustaining strong local journalism in the communities we serve. 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.”
The agency also granted Nexstar a waiver from an ownership cap.
In a statement, FCC Chairman Brendan Carr said, “The FCC has been focused on empowering broadcast TV stations to serve their local communities, consistent with their public interest obligations. Today’s agency decision does exactly that as both the record and Nexstar’s enforceable commitments demonstrate. For too long, the FCC stood by while newspapers closed by the dozen in communities all across the country. Those trusted sources of local news and information shuttered while the FCC dithered. If you care about local news, you should care about the future of local broadcast TV stations.”
More to come.
