US EditionTegna Falls 5% After Trump Criticizes Lifting Local TV Ownership Cap
President Trump opposes lifting the 39% cap on local TV ownership fearing it would strengthen liberal networks and harm conservative voices, while broadcasters seek changes to compete with tech giants.
- On Sunday, President Donald Trump posted on Truth Social opposing efforts to enlarge ABC and NBC, with shares of Nexstar, TEGNA, Sinclair, and E. W. Scripps dipping around 3 percent on Monday.
- In September, the Federal Communications Commission launched its quadrennial review and is taking public comments; last week, Nexstar Media Group applied to acquire TEGNA's broadcast licenses in a $6.3 billion deal.
- The National Association of Broadcasters backs reform, with Nexstar Media Group and Sinclair Broadcast Group using sidecar arrangements to control stations licensed to third parties.
- If regulators relax the cap, the proposed Nexstar-TEGNA tie-up would reach roughly 80% of U.S. households, exceeding the 39% ownership cap set by federal rules.
- The FCC, at Chairman Brendan Carr's direction, opened a new investigation last week into local-TV ties with major networks following disputes including Sinclair and Nexstar pulling `Jimmy Kimmel Live` from around 60 stations over the past year.
12 Articles
12 Articles
Trump takes aim at FCC review of broadcast ownership cap
President Donald Trump expressed unease with proposals to loosen the Federal Communications Commission‘s station-ownership rules, injecting fresh doubt into Nexstar Media Group‘s planned $6.2 billion takeover of TEGNA. Trump suggested the proposal would ultimately bolster the major liberal networks he frequently criticizes, pointing to NBC and ABC as examples, and warning it could expand the reach of “fake news.” On Truth Social, he said changes…
Trump Opposes Lifting Broadcast Ownership Cap
A possible initiative by the Federal Communications Commission (FCC) to repeal or revise a rule and allow companies to have increased ownership of television stations has been opposed by President Donald Trump. FCC Chairman Brendan Carr has publicly mulled changing the body’s “national television multiple ownership rule” or “national audience reach cap,” a federal regulation that limits any one entity from owning television networks that reach m…
Newsmax CEO Ruddy on FCC Cap: Trump ‘Strongly Standing With Us’
Newsmax CEO Christopher Ruddy praised President Donald Trump for coming out swinging against his own FCC Chair Brendan Carr over plans that would allow major TV networks to significantly expand their national reach by raising local ownership caps."He's strongly standing with us, and he's saying no expansion on this cap," Ruddy told Monday's "National Report," adding the president's message could not be clearer."And it's the craziest thing I've e…
Newsmax CEO Ruddy on FCC Cap: Trump ‘Strongly Standing With Us’
Newsmax CEO Christopher Ruddy praised President Donald Trump for coming out swinging against his own FCC Chair Brendan Carr over plans that would allow major TV networks to significantly expand their national reach by raising local ownership caps."He's strongly standing with us, and he's saying no expansion on this cap," Ruddy told Monday's "National Report," adding the president's message could not be clearer."And it's the craziest thing I've e…
Newsmax CEO Ruddy on FCC Cap: Trump ‘Strongly Standing With Us’
Newsmax CEO Christopher Ruddy praised President Donald Trump for coming out swinging against his own FCC Chair Brendan Carr over plans that would allow major TV networks to significantly expand their national reach by raising local ownership caps."He's strongly standing with us, and he's saying no expansion on this cap," Ruddy told Monday's "National Report," adding the president's message could not be clearer."And it's the craziest thing I've e…
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