Federal regulators have given their blessing to a major consolidation in the television industry, allowing Nexstar Media Group to move forward with its acquisition of competitor Tegna.
The Federal Communications Commission announced its approval on Thursday, clearing the way for the combination of these two major local television station operators.
However, the merger faces immediate legal challenges, with two separate lawsuits filed on the same day the FCC granted its approval. Both legal actions aim to prevent the deal from proceeding.
The merger would significantly reshape the landscape of local television ownership across the country, bringing together two of the industry’s largest station groups under one corporate umbrella.
