Nexstar will own less than 15 percent of TV stations after the deal, according to the Federal Communications Commission.
The Nexstar Media Group homepage on a laptop screen in New York on Jan. 31, 2025. Shutterstock
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The Federal Communications Commission (FCC) on March 19 approved Nexstar’s $6.2 billion purchase of local broadcast station owner Tegna amid legal challenges from eight states opposing the deal.
FCC said the deal would enable “broadcast TV stations to counter the growing power that national programmers have amassed in recent years,” while allowing Nexstar to own less than 15 percent of TV stations.
