U.S. agency to vote to end 39% local TV station ownership cap

The FCC approved in March Nexstar’s purchase of Tegna, a deal that would expand Nexstar’s coverage to ~80% of U.S. TV households. The approval removes a key regulatory hurdle, supporting the likelihood of deal completion and potential network/scale benefits for Nexstar versus rivals.

Analysis

The FCC approved in March Nexstar’s purchase of Tegna, a deal that would expand Nexstar’s coverage to ~80% of U.S. TV households. The approval removes a key regulatory hurdle, supporting the likelihood of deal completion and potential network/scale benefits for Nexstar versus rivals.