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Sinclair CEO Says Removing FCC Ownership Cap Will Enable ‘More Level Playing Field’
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The CEO also noted removing the cap would “strengthen broadcasters’ ability to invest in local news across the country,” as well as open up M&A opportunities.
Should the vote pass, Ripley noted the potential rule change would mark a “very significant” shift as the company evaluates large scale M&A, which the CEO noted is a “major objective” for the company.
The FCC cap currently prohibits broadcast owners from controlling stations in more than 39% of markets, but Thursday’s vote could remove the cap altogether.
Removing the cap would also help push along Nexstar’s acquisition of Tegna, which is at a standstill.
Ripley noted the company “fully expect[s] people to challenge this order,” but believes the FCC “is on solid legal ground here.”