Sen. Warren Targets Nexstar-TEGNA as 'Presumptively Illegal' in Violating FCC's 39% Cap
In their letter to the FCC and Justice Department, Several Capitol Hill Democrats Addressed None of the Issues Driving the Merger, Such as the Need to Gain Scale to Battle Big Tech and Big Media
Merger: Sen. Elizabeth Warren, D-Mass., and five other Democrats in Congress urged federal regulators to heavily scrutinize Nexstar Media Group’s proposed $6.2 billion acquisition of TEGNA and to block it if it violates telecom or antitrust law.
In a letter Monday to FCC Chairman Brendan Carr and Assistant Attorney General Abigail Slater, Warren, Sen. Chris Van Hollen, D-Md., Sen. Jacky Rosen, D-Nev., Rep. Doris Matsui, D-Calif., Rep. Maxwell Frost, D-Fla., and Rep. Summer Lee, D-Pa., warned that “regulatory approval of the conglomerate would likely raise prices for consumers, accelerate job losses, and weaken the independence and news coverage of local TV stations.”
The lawmakers’ seven-page letter addressed in detail none of the issues that Nexstar’s leadership has identified in justifying the merger – such as the ability of local TV stations to expand their reach to sustain local journalism and establish a level playing field to compete more efficiently with Big Tech and Big Media firms that are far wealthier and free from national and local ownership restrictions. (More after paywall.)
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