The Federal Communications Commission has approved Nexstar Media Group's $6.2 billion purchase of Tegna, granting a waiver that allows the broadcast giant to exceed the national 39 percent station ownership limit. The deal, which closed immediately after FCC approval, will give Nexstar control of stations reaching 80 percent of US TV households, or 54.5 percent when applying the UHF discount.

FCC Chairman Brendan Carr justified the waiver by arguing that major networks like Comcast and Disney have amassed too much power, claiming the merger will bring "real competition" to national programmers. The approval comes after President Trump endorsed the merger on Truth Social, calling it a way to "knock out Fake News" through increased competition.

State attorneys general from eight states are challenging the merger in court, arguing the FCC lacks authority to grant such waivers and that only Congress can change the 39 percent cap. The Carr FCC contends it has separate waiver authority and that the merger will enable better local news coverage and investment in communities. The combined entity will own 265 full-power TV stations, though Nexstar has committed to divesting six stations in smaller markets.