Tegna Shareholders Approve Nexstar Deal, Uncle Perry Sucks Up

The proposed $6.2 billion merger that would create the largest local-television station group in the United States took a critical step forward Tuesday as Tegna shareholders voted overwhelmingly to approve the company's acquisition by Nexstar Media Group. The spotlight now shifts entirely to the Federal Communications Commission (FCC), where Nexstar CEO Perry Sook is positioning his company as a political ally of President Donald Trump in a bid to win fast approval.

Nexstar and Tegna officially filed their applications with the FCC on Tuesday, seeking consent for the transfer of Tegna's broadcast licenses. The merger, which would push Nexstar's national reach significantly past the current 39% ownership cap, hinges on the FCC granting key waivers of existing media ownership rules.

In a lengthy statement filed with the applications and written to appeal directly to the Trump administration and FCC Chairman Brendan Carr, Nexstar CEO Perry Sook aggressively framed the consolidation as a victory for localism and a necessary countermeasure to "disinformation."

Sook's statement included a pointed, politically charged remark, declaring: "To be clear, in an age of disinformation and political agendas, we are the anti-fake news."

Does Uncle Perry want to tell us which legitimate news organization has reported “fake news” or does he just want to grandstand the the Pressident?

This rhetoric mirrors the language frequently used by President Trump to criticize traditional media outlets. By embracing the "anti-fake news" mantle, Sook appears to be making a clear attempt to garner favor and fast-track the merger's approval with a deregulation-friendly administration.

Nexstar's confidence appears to stem from the current political climate. President Trump, who recently named Commissioner Brendan Carr as the next FCC Chairman, has long advocated for loosening regulations on media ownership, a top legislative priority for Sook and Nexstar.

In his statement, Sook explicitly praised the administration's stance on regulation. "We are grateful that the Trump administration and the FCC recognize that the current television ownership regulations are outdated," he said, arguing that the combination is "vitally important" for local journalism to thrive against "Big Tech" and legacy media companies.

Critics, including public interest groups, have already filed opposition, arguing the mega-merger violates statutory ownership limits and will lead to less diverse local news coverage. However, the applicants are betting that the political appeal of deregulation and the strategic use of pro-administration rhetoric will sway the newly configured FCC to grant the necessary waivers.