FCC Says Nexstar Violated Ownership Cap Rules in Connection With WPIX-TV
By Josh Beckerman
The U.S. Federal Communications Commission said Thursday it found that Nexstar Media Group violated ownership rules in connection with New York station WPIX-TV, a decision the media company plans to dispute.
Nexstar said it has always complied with FCC regulations and it believes the agency has misjudged the facts of the matter.
WPIX is owned by Mission Broadcasting and operated by Nexstar. The company said its relationship with WPIX under a Local Marketing Agreement was approved by the FCC in 2020, when Mission bought the station.
In its decision, the FCC found that Nexstar took de facto control of WPIX through actions taken by it and Mission which the agency said resulted in Nexstar violating a longstanding cap that limits TV station owners to a 39% national audience share.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
March 21, 2024 19:09 ET (23:09 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Should Emerging-Markets Stocks Stand Alone in Your Portfolio?
-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
3 Dividend Stocks for October 2024
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued