Stock Markets July 15, 2026 01:04 PM

FCC Chair Moves to Eliminate Longstanding 39% Local TV Ownership Limit

Agency seeks case-by-case approval process for ownership above the cap amid legal challenges and partisan pushback

By Derek Hwang
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The Federal Communications Commission will vote to repeal an 85-year-old restriction that prevents any broadcaster from reaching more than 39% of U.S. television households, replacing it with a discretionary, case-by-case review process. The proposal, announced by FCC Chair Brendan Carr, has drawn praise from industry groups and sharp criticism from Democrats and other opponents, and arrives amid a high-profile, legally contested acquisition by Nexstar that previously prompted the agency to waivers of the cap.

FCC Chair Moves to Eliminate Longstanding 39% Local TV Ownership Limit
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Key Points

  • FCC Chair Brendan Carr will seek a vote to rescind the 39% cap and allow case-by-case approvals for transactions exceeding the limit - impacts broadcast regulation and media ownership.
  • The change comes as the FCC previously waived the cap to approve Nexstar's $3.54 billion acquisition of Tegna, a deal that would extend Nexstar's reach to roughly 80% of U.S. TV households if not blocked by courts - affects media companies and capital markets tied to broadcasting.
  • The proposal has drawn praise from industry groups and sharp objections from Democratic commissioners and state officials who argue Congress set the cap to protect competition, localism, and viewpoint diversity - relevant to legal and political sectors.

The Federal Communications Commission announced it will vote to remove a decades-old ownership limit that restricts a single broadcaster from reaching more than 39% of U.S. television households. The move was confirmed by FCC Chair Brendan Carr, who said the agency will adopt a discretionary, case-by-case framework to consider deals that would otherwise exceed the cap.

Proposal and rationale

Carr said the agency's new proposal would permit transactions that go beyond the 39% threshold only if the FCC determines, on a case-by-case basis, that the deal would serve the public interest. He set out these points in an essay published by the agency on Wednesday.

Under existing regulations, the ownership cap has been in place for roughly 85 years and counts certain stations with weaker over-the-air signals partially against a buyer's ownership total. The proposed approach would replace the bright-line percentage rule with individualized review.

Support and criticism

The National Association of Broadcasters welcomed the move, saying it recognizes that ownership rules applying solely to broadcasters are out of step with the current media landscape. Opponents, however, argue the change exceeds the FCC's authority and say only Congress can lift a statutory cap. Some critics also contend the shift risks concentrating local media ownership and diminishing viewpoint diversity.

"The cap reflects Congress' judgment that excessive concentration threatens competition, localism, and viewpoint diversity. It is not a suggestion. It is the law," said FCC Commissioner Anna Gomez, a Democrat.

Critics have additionally accused the chair of actions that, in their view, undermine broadcasters' free speech protections.

Context: Nexstar-Tegna transaction and legal challenges

The initiative is taking place against the backdrop of Nexstar's contested acquisition of local TV owner Tegna. In March the FCC approved the $3.54 billion sale of Tegna to Nexstar and waived the 39% rule in doing so. If the deal proceeds and is not overturned by the courts, Nexstar's footprint would expand to reach about 80% of U.S. television households.

A judge has paused the transaction while a legal challenge proceeds. The deal faced objections from Democratic-led states and has been a focal point for debates over consolidation and regulatory authority.

Political dynamics

President Donald Trump publicly expressed support for the Nexstar transaction in February. The chair has also faced pressure from the president on related licensing matters; Carr ordered an early license review of Disney's eight company-owned ABC stations after public pressure to revisit licenses for certain Comcast-owned NBC and ABC stations.


The FCC's forthcoming vote will determine whether the agency formally abandons the numerical cap and replaces it with a discretionary review process, but legal and political challenges mean the outcome and its practical effects remain uncertain.

Risks

  • Pending court challenges could block or delay transactions reliant on the waiver of the 39% cap, creating legal and regulatory uncertainty for broadcasters and investors.
  • Opposition from Democratic regulators and states raises the risk of further political and regulatory pushback, which could result in litigation or legislative action affecting media and communications sectors.
  • Critics argue the move may increase market concentration among station owners, potentially reducing localism and viewpoint diversity and prompting additional scrutiny from antitrust and public interest advocates.

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