Nexstar Seeks FCC Approval of Tegna Acquisition, Requesting Waiver of 39% Ownership Cap Rule

Business

Nexstar Media Group , seeking to clear its $6.2 billion deal for rival TV broadcast station group Tegna , officially filed applications Tuesday with the FCC that include a request for a waiver of the agency’s 39% ownership cap for local TV broadcasters. Nexstar is the U.S.’s biggest local TV station owner, with 201 owned or partner stations in 116 markets. The deal for Tegna , which has 64 stations in 51 markets, would bring the combined company to 265 stations — and increase Nexstar’s reach to

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