Jenkins Brett sold $51K of NXST

FCC Commissioner Brendan Carr and Olivia Trusty voted 2-1 to eliminate the 39% national ownership cap on local TV station reach, replacing it with a case-by-case review, according to the FCC. The change could benefit Nexstar and Sinclair as they seek further consolidation, including Nexstar’s bid for Tegna. Democrat Anna Gomez said the move is unlawful.

The FCC repealed a 22-year-old cap limiting ownership of local broadcast TV stations to those reaching over 39% of U.S. TV households, replacing it with case-by-case public interest review for future deals. The change could affect consolidation, including the $6.2 billion Nexstar-Tegna merger, which remains on hold amid state antitrust action. Nexstar and Sinclair support; critics cite antitrust and localism concerns.

A federal judge ruled that Nexstar officials cannot serve on Tegna’s board, clarifying an April preliminary injunction requiring the companies remain separate. Judge Troy Nunley said Nexstar failed to disclose that three Nexstar executives, including CEO Perry Sook, were appointed. The Nexstar-Tegna merger faced challenges by state AGs and DirecTV; Nexstar is appealing.

A federal judge ruled that Nexstar violated a preliminary injunction tied to its pending $6.2 billion merger with Tegna by appointing Nexstar executives and a former Nexstar president to Tegna’s board. U.S. District Judge Troy Nunley ordered Nexstar to report within 10 days and face ongoing compliance monitoring, including monthly board minutes. Nexstar said it will comply.

The FCC voted 2-1 to repeal the national TV station ownership cap limiting a single company to 39% of US TV households. FCC Chair Brendan Carr said the rule will be replaced with case-by-case reviews. Critics including Free Press and Sen. Elizabeth Warren said it could spur consolidation. Nexstar praised the change; Sinclair is cited as a likely buyer. Legal challenges are expected.

The FCC voted 2-1 to repeal the 39% national broadcast ownership cap and replace it with case-by-case review, according to the FCC. The change follows a waiver allowing Nexstar’s $6.2 billion merger with Tegna, later halted by a preliminary injunction from state AGs and DirecTV. Nexstar and Sinclair support; critics including FCC Commissioner Anna Gomez and the American Television Alliance oppose, citing legal and localism concerns.