Exhibit 948

Memorandum Opinion and Order, Applications for Consent to the Transfer of Control of TEGNA Inc. to Nexstar Media Inc., DA 26-267, MB Docket No. 25-331

Exhibit 948 · Agency order

Memorandum Opinion and Order, Applications for Consent to the Transfer of Control of TEGNA Inc. to Nexstar Media Inc., DA 26-267, MB Docket No. 25-331

we grant the Applicants’ request for a waiver of the Commission’s National Television Ownership Rule

Bureau-level order granting the transfer and waiving the National Television Ownership Rule. Para. 9: after the transaction Nexstar would reach 54.5% of the national audience after the 50% UHF discount. Para. 3: the full Commission previously determined the agency can modify the 39% rule and the Bureau waives it for this transaction. Para. 44: Nexstar commits to maintain an increase in local programming hours for two years, and the grant is subject to its commitments; the Bureau declined to adopt the conditions proposed in the record. Para. 45: the combination will help preserve Nexstar's ability to influence network programming through collective negotiation and to preempt network programming in favor of programming that better serves the local community. Para. 81: the Bureau quotes the Digital First Project's statement that the record contains no evidence of reduced local news output, eliminated editorial judgment or diminished viewpoint diversity, and agrees. Nexstar commits to divest six stations. Granted by the Chief, Media Bureau, without a Commission vote.

Source: Federal Communications Commission, Media Bureau
Date: 19 March 2026
Quoted from: Para. 3
Grade: Primary record
Document: https://docs.fcc.gov/public/attachments/DA-26-267A1.pdf
Accessed: 2026-11-10
Cited by: Findings citing this exhibit
Note: Para. 45 states: 'the combination provided by the Transaction will help preserve Nexstar’s ability to influence network programming through collective negotiation and to preempt network programming in favor of programming that better serves the local community.' Para. 81 is the Digital First Project's statement, quoted by the Bureau, which the Bureau agrees with; Nexstar's commitment (paras. 44, 7) concerns local programming hours, not news hours.

Cited by

Finding INF-1.2: Primary record On 19 March 2026 the FCC's Media Bureau granted Nexstar's acquisition of TEGNA and waived the National Television Ownership Rule; the order states that Nexstar would reach 54.5 percent of the national audience after the UHF discount, with six stations divested, and lists among its reasons that the combination will preserve Nexstar's ability to preempt network programming in favor of programming that better serves the local community. On 6 August 2026 the Commission adopted a Report and Order repealing the national television multiple ownership rule and replacing it with case-by-case review, over a dissent by Commissioner Gomez.
Finding INF-1.15: Primary record On 17 September 2025 Nexstar announced that its ABC-affiliated stations would preempt "Jimmy Kimmel Live!" for the foreseeable future, and gave its own objection to Mr. Kimmel's comments as its reason. The release does not mention the FCC or any government request; Nexstar's agreement to acquire TEGNA, dated 18 August 2025, was pending before the FCC on that date.