WASHINGTON—The Federal Communications Commission has opened a docket for comments on the proposed $6.2 billion Nexstar acquisition for Tegna and set deadlines for comments.
Nexstar reported that the combined company would serve 54.5% of the national audience, which means it would need a waiver of the National Television Multiple Ownership Rule limiting station groups to 39% reach of the national audience.
It is also seeking a waver of rules that prevent it from owning more than two full power stations in 23 markets.
On December 1, 2025, the FCC began accepting filing applications at MB Docket No. 25-331 on the proposed transfer of all outstanding equity interests in Tegna, the parent company of 64 full power television stations, one AM radio station, one FM radio station, and other related FCC licenses, to Nexstar Media Inc.
The FCC said that any Petition to Deny filings must be received by December 31, 2025; Opposition filings must be submitted by January 15, 2026 and Reply filings by January 26, 2026.
The FCC noted that the United States Court of Appeals for the Eighth Circuit has issued its mandate in Zimmer Radio of Mid-Missouri, Inc. v. FCC. The ruling in that case vacated and remanded the portion of the Commission’s Local Television Ownership Rule prohibiting common ownership of two of the top four ranked stations in the same Nielsen Designated Market Area (DMA) (Top-Four Prohibition), subject to certain exceptions.
In that ruling the court also vacated an amendment to Note 11 of 47 CFR § 73.3555 that included multicast and low-power television streams in the Top-Four Prohibition.
As a result, the remaining portion of the Commission’s Local Television Ownership Rule 47 CFR § 73.3555(b) now permits common ownership of two television stations in a single DMA without restriction.
Even so, Nexstar is seeking a waiver of the Commission’s Local Television Ownership Rule with respect to the 23 DMAs in which Nexstar proposes to own more than two full power television stations.
The FCC also reported that its National Television Multiple Ownership Rule prohibits a single entity from owning television stations that, in the aggregate, reach more than 39% of the total television households in the United States, after taking into account a 50% discount to UHF stations.
Because the combined companies would serve 54.5% of the national audience, Nexstar is seeking a waiver of the National Television Multiple Ownership Rule.
More information is available here.
Filings in the docket can be accessed here.
