On July 23, 2025, the U.S. Court of Appeals for the Eighth Circuit vacated two aspects of the Federal Communications Commission’s (FCC or Commission) regulation restricting the number of television stations that one entity can own in a local market. The court vacated the prohibition on ownership of two of the top four stations in a local market (the Top Four Prohibition) and the FCC’s expansion of the Top Four Prohibition to reach multicast streams and low power television stations (the N...