Nexstar Points to Common Ground with Trump on 39% Cap

Merger: Nexstar Media Group backed President Trump’s call Sunday for the FCC to avoid deregulatory measures that could swell the influence of broadcast TV networks like ABC and NBC. “We agree with President Trump that the status quo is no longer acceptable, nor should the government do anything to strengthen the stranglehold of of legacy media and Big Tech on the marketplace of ideas,” Nexstar said in a statement. To complete its $6.2 billion merger with TEGNA, Nexstar needs relief from the FCC’s 39% cap, which is the highest percentage of TV households a single TV station is allowed to reach nationally. Nexstar has asked for a waiver to the extent the 39% cap would bar closing of the TEGNA deal. The FCC under Chairman Brendan Carr is looking at refreshing the 39% cap rule with an eye toward relaxing it, but Carr has not committed to anything much beyond that. “Americans want more access to local news and a variety of voices without the filter of the coastal elites,” Nexstar said, echoing a Carr refrain about local TV stations having to air what’s forced on them by network executives based in New York and Hollywood. Nexstar is based in Irving, Texas. “This is an historic opportunity to change the status quo and deliver a win for Americans across the country who are weary of legacy media’s leverage over local broadcasters” Nexstar said. “We continue to believe that the landscape is ripe for regulatory reform and that we are on the path to completing our transaction.” (More after paywall.)