FCC clears 3.5 billion dollar Nexstar Tegna merger
The FCC approved Nexstar's $3.5 billion purchase of Tegna while waiving audience reach caps. The deal closed despite lawsuits from eight states and DirecTV.
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The United States Federal Communications Commission (FCC) has officially approved the $3.54 billion acquisition of local television broadcaster TEGNA Inc. by Nexstar Media Group, Inc.. Shortly after the announcement, Nexstar confirmed the transaction had closed following regulatory clearances from both the FCC and the Department of Justice.
"This transaction is essential to sustaining strong local journalism in the communities we serve," Nexstar CEO Perry Sook said in a statement.
