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Stock impact report

FCC approves $3.5 billion sale of Tegna to Nexstar despite state objections [Yahoo! Finance]

TEGNA Inc (TGNA) 
Last tegna inc earnings: 2/11 08:01 am Check Earnings Report
US:NYSE Investor Relations: investors.tegna.com
Company Research Source: Yahoo! Finance
the $3.54 billion sale of local television station owner Tegna to Nexstar, despite objections from ?Democratic-led states. Acquiring Tegna would expand Nexstar's presence to cover 80% of U.S. TV households. The FCC said ?it is waiving a rule that allows broadcast television station owners to reach no more than 39% of U.S. television audience households as ?part of its approval. "By approving this transaction, which allows Nexstar to own less than 15% of television stations, the FCC acts mindful of the media marketplace that exits today — not the one from decades past," FCC Chair Brendan Carr said in a statement. In February, President Donald Trump said he supported the deal. Trump has repeatedly pressured Carr to revoke the ?licenses of NBC and ABC stations. Critics ?have said Carr is violating the free speech rights of broadcasters. The approval comes a day after a group of eight states filed a suit in the U.S. District Court in ?Sacramento, California, to block the merger th Show less Read more
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