US: FCC okays Nexstar-Media general $4.6 billion merger

The FCC’s Media Bureau has approved the Nexstar-Media General merger. That came in an order published on the FCC website Wednesday.

Both broadcasters had asked the FCC to waive its rule preventing a decision on the deal while the spectrum auction was still in progress.

The commission agreed and at the same time approved the merger.

Citing the proposed spin-offs to make the merger comply with local and national ownership rules, the FCC concluded that the merger is OK, and it would waive the prohibition on completing the deal during the auction.

Among the public interest benefits the Media Bureau included Nexstar viewers’ access to Media General’s DC news bureau and the establishment of state news bureaus. It gave “minimal weight” to cost savings and efficiencies or assertions that the deal would result in lower programming costs or more diverse programming.

The FCC also gave little weight to their contention that the deal would make it a more attractive partner to MVPDs–a number of those MVPDs opposed the deal–and would have more “strategic alternatives:” outside of broadcasting. “Nexstar has provided insufficient information for us to verify this benefit,” the bureau said.

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