Trump's regulators approve TV merger that set off conservative media feud [Yahoo! Finance]
Newsmax, Inc. Class B (NMAX)
Company Research
Source: Yahoo! Finance
nation's largest broadcaster in a deal that set off a fierce power struggle within conservative media. The combined company will own more than 250 TV stations and reach more than half of American households, breaching a cap passed by Congress in 2004 that limits broadcasters to only reaching 39 percent of viewers. Commission Chair Brendan Carr has criticized the cap as outdated and overbroad and granted a waiver to allow the deal. But the cap's supporters say it will create a monopoly that gives Nexstar unprecedented broadcast power over American households. Nexstar announced on Thursday evening it has closed the deal following approval from both the FCC and Justice Department. DOJ didn't immediately comment. The development comes just hours after eight Democratic attorneys general and DirecTV sued to block the deal “By approving this transaction, which allows Nexstar to own less than 15% of television stations, the FCC acts mindful of the media marketplace that [exists] today —
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