The Federal Communications Commission has approved the $3.54 billion acquisition of Tegna Inc. by Nexstar Media Group, clearing the way for one of the largest TV station mergers in the United States.
The decision allows Nexstar to significantly expand its reach to about 80% of US television households.
Soon after receiving approval from the FCC and the US Department of Justice, Nexstar announced it had closed the deal.
Company leaders said the move is aimed at strengthening local journalism across the country, even as critics warn it could reduce media diversity.
"This transaction is essential to sustaining strong local journalism in the communities we serve," Nexstar CEO Perry Sook said in a statement.
The FCC said it waived a long-standing rule that normally limits any single broadcaster from reaching more than 39% of US, Reuters reported.
TV households. Regulators said the modern media landscape has changed, and larger broadcast groups now compete with streaming and digital platforms.
The FCC has granted approval for Nexstar to complete its $3.5 billion acquisition of TV station operator Tegna https://t.co/YiotqV4wal
— Bloomberg (@business) March 20, 2026
FCC Chair Defends Nexstar-Tegna Deal
According to Bloomberg, FCC Chair Brendan Carr defended the decision, saying the agency focused on "empowering broadcast TV stations to serve their local communities."
He added that the approval reflects today's media market rather than rules written decades ago.
The combined company will now operate hundreds of local stations across dozens of states.
Nexstar, already the largest local TV broadcaster in the country, says the merger will help it invest more in local news production and programming.
The company also agreed to sell off six stations within two years to meet regulatory conditions.
However, the deal has faced strong pushback. A group of state attorneys general and media companies filed lawsuits to block the merger, arguing it could concentrate too much control of local news in fewer corporate hands.
Critics say that could lead to fewer independent voices and job cuts in local newsrooms.
Supporters of the deal argue that larger station groups can better survive financial pressure and compete with big streaming platforms.
Nexstar has also promised to increase local news coverage in several major cities, including Dallas, Houston, and Phoenix, at least for the next two years.
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