UPDATED, with Nexstar statement: Nexstar is responding after President Donald Trump expressed misgivings about one of the company’s key regulatory priorities: Listing an ownership cap on the number of stations one company can own.

Nexstar’s proposed merger with Tegna will put the company well about the current ownership cap, limiting broadcasters to owning stations that collectively reach up to 39% of the country. Nexstar is seeking an FCC waiver for its merger, but also has been urging the FCC to eliminate the cap, citing competition from big tech.

In a statement, Nexstar said, “We continue to believe that the landscape is ripe for regulatory reform and that we are on the path to completing our transaction. We agree with President Trump that the status quo is no longer acceptabl

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