WASHINGTON—Newsmax founder and CEO Christopher Ruddy has come out against reducing broadcast ownership caps in a filing with the Federal Communications Commission that says the agency has no authority to change the rules and that “allowing more consolidation in local broadcasting would not only fail to curtail anticompetitive practices of Big Tech platforms, but actually would harm local broadcasting TV the same way it did radio broadcasting.”
“Following the FCC’s relaxation of radio ownership regulations [in the 1990s], many station owners relied heavily on debt financing to acquire additional outlets and expand their market presence,” Ruddy argued in a August 21 filing to the FCC. “In the aftermath of this consolidation, the terrestrial radio market is now dominated by three primary operators: iHeart, Cumulus, and Audacy, each burdened with significant debt obligations from their buying sprees. This financial strain has placed them in a precarious position, prompting a shift away from locally produced programming toward nationally syndicated content. This has led to the reduction of local voices in an effort to minimize costs and meet debt service obligations.”
In the filing Ruddy also argued that the “Commission cannot legally alter the Horizontal Ownership Cap. As Newsmax explained, and as other parties argued in convincing detail, the statutory language reveals a crystal clear congressional intent to set the Horizontal Cap at 39% and prevent the Commission from changing the rule without express authorization from Congress.”
“The Commission must abide, not only by maintaining the 39% limit but by eliminating once and for all the outdated, so-called `UHF discount,' which only serves to undermine Congress’ original intent," he wrote.
While the conservative cable news outlet is a relatively small player in the TV industry, with just $46.4 million in revenue in Q2 2025, Ruddy’s opposition to ending ownership caps for stations and his push to get the FCC to get rid of the UHF discount, which allows station groups like Nexstar to exceed the 39% cap, is notable. He is a longtime friend of President Donald Trump, and his Newsmax has been described as one of Trump’s favorite outlets.
Ruddy’s views put him at loggerheads with filings from conservative groups and FCC Chair Brandan Carr who has repeatedly indicated a willingness to change the ownership rules as part of a larger effort to strength local broadcasting.
