The Federal Communications Commission's long-delayed 2022 Quadrennial Review of media ownership rules is barreling toward a critical December 17, 2025, comment deadline, putting the spotlight on the Local Radio Ownership Rule that caps single-entity ownership at up to eight stations (with no more than five FM) in the largest U.S. markets. Broadcasters, grappling with a 10% year-over-year drop in traditional ad revenues amid digital streaming competition, are urging the FCC to modernize these 1996-era limits to enable greater consolidation and survival.
However, critics including public interest groups warn that easing restrictions could erode local programming and viewpoint diversity, while incoming President Donald Trump's recent opposition to relaxing related TV caps threatens to stall the entire process—potentially derailing deals like Nexstar Media Group's $6.2 billion bid to acquire TEGNA's 64 TV stations, one AM, and one FM radio outlet.
The review, mandated every four years under Section 202(h) of the Telecommunications Act of 1996, requires the FCC to assess whether rules like the Local Radio Ownership Rule, Local Television Ownership Rule, and Dual Network Rule—barring mergers among ABC, NBC, CBS, and Fox—remain "necessary in the public interest" given evolving competition.
 |
| Brendan Carr |
Yet, on November 24, 2025, Trump threw a curveball via Truth Social, stating he "would not be happy" if changes allowed "Radical Left Networks" like ABC and NBC to "enlarge," calling them a "virtual arm of the Democrat Party."
The post, echoing Newsmax CEO Chris Ruddy's critiques, highlights fears of consolidating "fake news" power, though experts note the Big Four networks currently sit well under the 39% national TV ownership cap (NBC at 20%, ABC at 20.1%, CBS at 24.1%, Fox at 26.2%).
For radio, the stakes are existential. The Local Radio Ownership Rule has gone unrevised since the 1996 Telecom Act, despite the sector's contraction—now just 10,962 commercial AM/FM stations, down from peaks in the early 2000s, with 2,893 firms mostly under $47 million in annual revenue.
NAB proposes scrapping FM limits in top markets and allowing unlimited AM ownership to foster "scale for competition," citing a July 2025 Eighth Circuit ruling that struck down parts of the 2018 review's TV rules as overly restrictive.
Groups like the Prometheus Radio Project counter that consolidation has already homogenized content—post-1996 mergers led to 20% fewer station owners—and further easing could amplify echo chambers, harming minority voices in underserved markets.
Trump's intervention amplifies cross-medium tensions. His stance targets the Dual Network Rule and 39% national TV cap, but radio advocates fear spillover: Carr's "open-minded" review could hinge on White House alignment, especially with reply comments due January 16, 2026.
Nexstar's November 18 filing underscores the urgency: The deal would vault the company to 265 stations reaching 80% of U.S. TV homes (up from 39%), including TEGNA's lone AM (WILM in Wilmington, DE) and FM (WDDJ in Paducah, KY), but requires waivers for local TV duopolies and the national cap.
Nexstar CEO Perry Sook hailed it as essential for "local journalism to thrive" against Big Tech, but Trump's post—linked to Ruddy's warnings of a "disaster for conservatives"—prompted Nexstar to reaffirm the status quo's flaws while eyeing mid-2026 closure.