Nexstar's Tegna Acquisition to Get Boost From FCC's Expected Repeal of Audience Cap
The Federal Communications Commission is expected to repeal a nationwide TV audience cap in what would be a win for Nexstar Media Group's (NXST) acquisition of rival Tegna, A Nexstar-Tegna combination would reach roughly 80% of US households, significantly above the historic threshold of 39%, the report said. FCC Chairman Brendan Carr is expected to announce the rule change Tuesday in an op-ed for Breitbart and then discuss the decision at a policy summit in Washington, the report said, citing the people. The FCC approved the merger earlier this year, suspending the rule on a case-by-case basis as a result, the report said. The FCC did not immediately reply to a request for comment. Price: $189.24, Change: $+13.68, Percent Change: +7.79%
The Federal Communications Commission is expected to repeal a nationwide TV audience cap in what would be a win for Nexstar Media Group's (NXST) acquisition of rival Tegna, A Nexstar-Tegna combination would reach roughly 80% of US households, significantly above the historic threshold of 39%, the report said.
FCC Chairman Brendan Carr is expected to announce the rule change Tuesday in an op-ed for Breitbart and then discuss the decision at a policy summit in Washington, the report said, citing the people.
The FCC approved the merger earlier this year, suspending the rule on a case-by-case basis as a result, the report said.
The FCC did not immediately reply to a request for comment.
Price: $189.24, Change: $+13.68, Percent Change: +7.79%