FCC Chair Backs Nexstar's $3.54B Acquisition of Tegna

The deal would create the largest U.S. regional TV station operator, but requires lifting ownership cap.

Published on Feb. 22, 2026

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The chair of the Federal Communications Commission, Brendan Carr, said he supports Nexstar's proposed $3.54 billion acquisition of Tegna, which would make the combined entity the largest U.S. regional TV station operator. The deal would require the FCC to lift the current cap on station ownership, which limits companies from owning broadcast TV stations that reach more than 39% of U.S. television households.

Why it matters

The proposed merger is part of a broader trend of consolidation in the local media industry, which is grappling with falling revenue and subscriber losses due to the rise of streaming services. The FCC's decision on whether to lift the ownership cap could have significant implications for the future of regional TV station ownership and competition in the industry.

The details

Acquiring Tegna would expand Nexstar's presence, allowing it to cover 80% of TV households across key geographies. Current FCC rules limit a company from owning broadcast television stations that reach more than 39% of U.S. television audience households, but stations with weaker over-the-air signals can be partially counted against a company's ownership cap. FCC Chair Brendan Carr said he believes the cap could be revised by the commission without approval of Congress, though Democratic FCC Commissioner Anna Gomez said she did not think the FCC had that authority.

  • On February 18, 2026, FCC Chair Brendan Carr said he supports Nexstar's proposed $3.54 billion acquisition of Tegna.
  • Earlier in February 2026, President Donald Trump publicly backed the Nexstar-Tegna merger.

The players

Brendan Carr

The chair of the Federal Communications Commission who said he supports Nexstar's proposed acquisition of Tegna.

Donald Trump

The former U.S. President who publicly backed the Nexstar-Tegna merger earlier in February 2026.

Anna Gomez

A Democratic FCC Commissioner who said she does not believe the FCC has the authority to revise the station ownership cap without approval from Congress.

Nexstar

A U.S. regional TV station operator that has proposed a $3.54 billion acquisition of Tegna.

Tegna

A U.S. regional TV station operator that Nexstar has proposed to acquire for $3.54 billion.

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What they’re saying

“I support that transaction. We're going to be moving forward.”

— Brendan Carr, FCC Chair (Reuters)

“The station ownership cap "remains one of the last meaningful protections for competition and diversity in the broadcast and cable ecosystem.”

— Chris Ruddy, CEO of Newsmax (Congress)

What’s next

The FCC will need to decide whether to lift the current cap on station ownership in order to approve the Nexstar-Tegna merger. This decision could come in the coming weeks or months.

The takeaway

The proposed Nexstar-Tegna merger highlights the ongoing consolidation in the local media industry as companies seek to adapt to the rise of streaming services. The FCC's decision on whether to lift the station ownership cap could have significant implications for the future of regional TV station ownership and competition in the industry.