Too Big Or Too Small: Five Takeaways As Senators Weigh Local News, TV Ownership Limits And Trump’s Surprise Nexstar Merger Endorsement

When President Trump endorsed Nexstar‘s proposed merger with Tegna, which would create a broadcast giant reaching 80 percent of the country, it scrambled a feverish Washington (DC) lobbying effort over a transaction that has gotten fewer headlines than Netflix-Paramount-Warner Bros. The merger will have a huge impact, giving Nexstar 265 stations in 44 states and the District of Columbia, and likely remaking the media landscape. On February 10, the Senate Commerce Committee took up an issue that is underlying that deal: A restriction that prevents any TV broadcast entity from amassing stations that cover more than 39 percent of the country. Nexstar is seeking a waiver from the Federal Communications Commission from the 39 percent cap, while the agency is considering whether to raise that threshold or abolish it altogether. At stake is the future of local broadcast TV and, more specifically, local news, something lawmakers of both parties repeatedly cited.