Texas-based Nexstar Media group, the largest U.S. local broadcaster — with 200 TV stations in 116 local markets (out of 210 Designated Market Areas) — is looking to increase its reach by acquiring the local TV stations of its competitor, Virginia-based Tegna.
Tegna’s 64 local TV stations cover 51 U.S. markets and the deal could cost Nexstar $2.5 billion.
Under President Trump’s relaxation of FCC rules, the regulatory agency has looked favorably on loosening restrictions for television station owners, and recently the courts vacated the rule preventing a TV group from owning more than one of the top four stations in a given market.
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