WATE AND WBIR IN KNOXVILLE TO OPERATE UNDER SAME CORPORATE UMBRELLA SPARKS STATE LAWSUITS
Eight states, but not Tennessee, have filed a lawsuit to block Nexstar’s acquisition of Tegna.
Tegna is the parent company of WBIR Channel 10 in Knoxville.
Nexstar Media Group is the parent company of WATE Channel 6 in Knoxville.
Nexstar confirmed the $6.2 billion deal had gone through yesterday after approval from the Federal Communications Commission and the U.S. Justice Department. It marks a major policy shift that, until recently, would’ve prevented a single parent company from owning more than one station in a market.
The deal, if approved by President Trump’s administration, would create the largest local broadcast group in the country and hand Nexstar control of local news programming in more than 70 percent of U.S. households.
DirecTV filed separate lawsuits seeking to block the deal, arguing that it will lead to higher prices for consumers and stifle local journalism.
“This merger is illegal, plain and simple, running contrary to federal antitrust laws that protect consumers,” California Attorney General Rob Bonta said in a statement. “When broadcast media is owned by a handful of companies, we get fewer voices, less competition, and communities lose the critical check on power that local journalism delivers.”
Founder, Chairman, and Chief Executive Officer of Nexstar Perry Sook spoke on the merger, calling it “essential” to journalism.
“This transaction is essential to sustaining strong local journalism in the communities we serve,” Sook said. “By bringing these two outstanding companies together, Nexstar will be a stronger, more dynamic enterprise—better positioned to deliver exceptional journalism and local programming with enhanced assets, capabilities, and talent.”
It now means that both WATE and WBIR will operate under the same corporate umbrella. At this time, Nexstar leaders have not revealed plans for cities where the company now owns multiple stations.
