Nexstar to divest six stations under FCC conditions for Tegna deal

Nexstar Media Group will divest six television stations as part of Federal Communications Commission approval of its acquisition of Tegna, according to filings with the agency.

The divestitures include KTVD in Denver, WTHR in Indianapolis, WCTX in New Haven, WAVY in Portsmouth, WUPL in Slidell and KNWA in Rogers.

FCC gives its OK to Nexstar-Tegna merger, deal closes

Of those stations, three are NBC affiliates, with the others affiliated with MyNetworkTV.

The FCC said the sales must occur within two years of the transaction closing if a waiver of local ownership rules remains necessary.

The FCC determined that the temporary period of common ownership would not unduly harm competition, citing Nexstar’s transaction-related commitments.

Nexstar closed its $6.2 billion acquisition of Tegna after receiving approval from the FCC and the Department of Justice, creating one of the largest local television station groups in the United States.

Under the deal terms, the combined company will operate stations reaching a majority of U.S. television households, exceeding the national ownership cap through a waiver granted by the FCC. The company agreed to the divestitures as a condition tied to waivers of local ownership limits in certain markets.

The divestitures are concentrated in markets where Nexstar would otherwise exceed local ownership thresholds, including Indianapolis and the Norfolk-Portsmouth-Newport News region. 

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The merger has faced legal challenges from several states and industry stakeholders, who argue the combined company could gain excessive market power in retransmission negotiations and local advertising.

Despite those challenges, the transaction has closed, with divestiture commitments forming a key component of the regulatory approval framework.