Industry Leaders Debate Cap on TV Station Ownership During Senate Hearing

Newsmax CEO Chris Ruddy testifies about media ownership before the Senate Committee on Commerce, Science, and Transportation in the Russell Senate Office Building on Capitol Hill in Washington, DC, on Feb. 10, 2026. Ruddy opposes the proposed $3.5 billion acquisition of Tegna Inc. by Nexstar Media Group, which would create the largest regional TV station operator in the United States. Nexstar owns NewsNation, a direct competitor to Ruddy’s Newsmax. Chip Somodevilla/Getty ImagesTelevision industry leaders appeared on Capitol Hill on Feb. 10, joining lawmakers in debating how a federal limit on station ownership impacts both competition and costs to consumers.The Federal Communications Commission (FCC) is currently reviewing its “ownership cap,” which prohibits companies from owning stations that collectively reach more than 39 percent of all households with televisions.