The native TV station big Nexstar has formally requested the FCC to approve the switch of broadcast licenses managed by Tegna, a key a part of its proposed $6.2 billion takeover that might make it by far the biggest proprietor of TV stations within the U.S.
The FCC is presently going by way of a rulemaking course of that would see it elevate the cap on what number of stations an organization can personal, however Nexstar has requested for a waiver, a transfer that would assist pace up the method.
In an announcement Tuesday, Nexstar CEO Perry Sook framed the deal as being necessary to the way forward for information.
“To be clear, in an age of disinformation and political agendas, we’re the anti-fake information,” Sook mentioned. “Our information is delivered by trusted, acquainted voices — journalists who stay locally — not a chatbot or social media influencers. And but, we’re prohibited from broadcasting trusted native information and programming to lots of of communities throughout the nation due to antiquated regulatory constraints. In an period the place political discourse has turned more and more polarized and violent, our democracy requires that People have easy accessibility to dependable fact-based journalism and group boards to debate the problems of the day safely and respectfully.
“Nexstar’s acquisition of TEGNA will present us with the size vital for native journalism to thrive amidst a media panorama that’s dominated by Huge Tech and the legacy media firms, enabling us to proceed not solely investing in high-quality journalism and native information, however in serving our native communities in the very best manner,” Sook continued.
Nexstar and Tegna are framing the deal as a dire one, with competitors from Huge Tech firms like Google and Amazon, who’re hoovering up advert {dollars}, in addition to from conventional media firms who’ve international ambitions of their very own. The businesses body the present second as a “disaster” warranting speedy motion by the FCC.
“Steep competitors from tech platforms has engendered a disaster even for broadcasters thought of to be well-positioned,” Nexstar writes in its submitting. “The Transaction will present the mixed Nexstar with economies of scale and the attain wanted to efficiently compete with giants like Alphabet (Google, YouTube, YouTubeTV), Amazon (Amazon Advertisements, Prime Video, Twitch), Apple (AppleTV), Comcast (Peacock), Disney (Disney+, Hulu, ESPN, Fubo), Meta (Fb, Instagram, WhatsApp), Netflix, Paramount (Paramount+, Pluto TV), TikTok, and Warner Bros. Discovery (HBO Max), all of that are unshackled of their capacity to achieve a nationwide viewers. These conglomerates more and more siphon income away from broadcast stations for the good thing about their nationwide and international digital platforms and affiliated streaming providers, rendering Nexstar and TEGNA unable to compete and preserve the identical stage of funding within the important native content material upon which their communities rely.”
“Analysis of the Transaction shouldn’t be skewed by false narratives whose basis depends on wishful occupied with yesteryear, or the misperception that native broadcast tv in the present day is a enterprise wherein it’s commonplace for individually-owned stations to efficiently compete and derive the wherewithal to put money into numerous, native programming and innovation,” the submitting continues. “A dedication as as to whether or not the general public curiosity is served by grant of the Purposes needs to be based mostly in actuality—Nexstar and TEGNA should mix if their native stations’ important function in our nation’s info ecosystem is to be preserved. Time is of the essence.”
