Nexstar CEO tells Senate Big Tech poses existential threat to broadcasting

The push for the JCPA signals a critical pivot in the broadcast industry's fight to reclaim local ad dollars currently dominated by programmatic giants. If passed, the collective bargaining power could force a redistribution of digital revenue, potentially stabilizing the declining margins of local affiliates. This regulatory friction highlights the widening gap between content producers and the distribution platforms that monetize them. Success here would create a blueprint for other media sectors to challenge the transparency and fee structures of the Big Tech advertising stack. Watch for the Senate Judiciary Committee's markup session to see if the antitrust exemption language remains intact through the next legislative phase.

The pressure on local broadcasters coincides with a broader shift in the digital advertising landscape. Per eMarketer in March 2026, Google and Meta's combined share of the U.S. digital ad market is projected to remain above 45%, even as retail media networks and connected TV platforms gain ground. This concentration has historically penalized regional news outlets that lack the scale to compete for direct national buys. The Television Bureau of Advertising reported in April 2026 that while political spending remains a stabilizer for local TV, core commercial categories like automotive and retail are increasingly migrating to hyper-targeted social media formats, exacerbating the revenue drain Sook described to the Senate.

Legislative momentum for the JCPA has faced intermittent resistance from both tech trade groups and consumer advocacy organizations. According to The Wall Street Journal in May 2026, critics of the bill argue that an antitrust exemption could inadvertently favor large media conglomerates like Nexstar and Sinclair over independent, smaller-market publishers. Meanwhile, international precedents have shown mixed results; in Australia, the 2021 News Media Bargaining Code led to deals worth over $200 million for local outlets, but Meta recently announced it would not renew those agreements in May 2026, citing a shift in user interest away from news. This global volatility underscores why U.S. broadcasters are seeking permanent legislative protections rather than voluntary partnerships with platforms.