Nexstar said on Thursday that they had closed their acquisition of Tegna following approvals from the FCC and the Justice Department.
The $6.2 billion merger, which will create a broadcast station giant, was given the greenlight by the FCC’s Media Bureau in an announcement on Thursday evening.
Perry Sook, the CEO of Nexstar, said in a statement, “This transaction is essential to sustaining strong local journalism in the communities we serve. By bringing these two outstanding companies together, Nexstar will be a stronger, more dynamic enterprise—better positioned to deliver exceptional journalism and local programming with enhanced assets, capabilities, and talent.”
The agency also granted Nexstar a waiver from an ownership cap, which limits companies from amassing stations covering more than 39% of the country. The combined company will own or operate almost 260 stations across the country, well surpassing the limit, with earlier estimates at around
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