Lawmakers Want the FCC to Say No to Nexstar/Tegna Deal

The proposed $6.2 billion acquisition of TEGNA by Nexstar Media Group is facing forceful opposition from Colorado's senior Democratic lawmakers, Senator Michael Bennet and Representative Joe Neguse, who have formally urged the Federal Communications Commission (FCC) to reject the deal.

In a letter sent to FCC Chairman Brendan Carr on Thursday, Bennet and Neguse argued that the massive merger "would violate the national broadcast ownership cap and could have devastating consequences for our home state of Colorado."

The core of the lawmakers' concern lies in the sheer scale of the combined company. Nexstar, which currently owns Fox31 in Denver, and TEGNA, which owns 9NEWS, would merge to create the country’s largest local broadcasting company. This new entity would combine 265 television stations across 44 states and Washington, D.C., reaching nearly 80% of U.S. households. This far exceeds the current ownership cap, which limits a single broadcaster to reaching 39% of U.S. TV households.

The lawmakers contend that maintaining this cap is essential to promoting competition and protecting local news. "The national broadcast ownership cap promotes competition and incentivizes stations to maintain local newsroom activity and retain local journalism jobs," they wrote. "Without it, our media coverage will become more nationalized and local coverage will decrease."

In Denver specifically, the deal raises the specter of combining Nexstar-owned Fox31 with TEGNA-owned 9NEWS, an outcome that Nexstar's Chairman and CEO, Perry Sook, has stated is possible for multiple stations in the same city.Colorado Governor Jared Polis and Attorney General Phil Weiser have also publicly voiced concerns over the consolidation.

The call for rejection directly challenges the current regulatory climate at the FCC, which has already initiated a process that could loosen ownership rules. FCC Chairman Carr, who has previously labeled current limits on media coverage as "arcane" and "artificial," must ultimately approve the transaction. Carr recently praised Nexstar after the company temporarily pulled “Jimmy Kimmel Live!” off the air following comments the host made regarding the Charlie Kirk assassination.

For Nexstar, the acquisition is framed as a necessity for survival in a digital age. Upon announcing the deal in August, CEO Sook said the transaction was meant to leverage "the initiatives being pursued by the Trump administration" to help local broadcasters "compete more effectively with the Big Tech and legacy Big Media companies that have unchecked reach and vast financial resources."

The purchase is currently expected to close in the second half of 2026, pending final approval from regulators and shareholders