Nexstar Media Group

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Nexstar absorbs Tegna to create largest U.S. broadcast company after FCC waives ownership cap

Acquirer; now the largest TV broadcaster in U.S. history

For two decades, federal law has barred any single company from owning television stations that reach more than 39% of American households. On March 20, the Federal Communications Commission (FCC) waived that rule for the first time, clearing Nexstar Media Group's $6.2 billion acquisition of rival broadcaster Tegna. The combined company now owns 265 stations in 44 states, reaching roughly 80% of U.S. TV households — more than double the legal cap.

Updated May 30