owning 197 television stations across the U.S., most of whom are affiliated with the four "major" U.S. television networks. It also owns The CW (joint venture with Paramount Global via CBS and Warner Bros. Discovery), NewsNation (formerly WGN America) and digital networks Antenna TV and Rewind TV. See: List of stations owned or operated by Nexstar Media Group. Sinclair Broadcast Group It owns or operates a large number of television stations across the country that are affiliated with all six major television networks, including stations formerly owned by Allbritton Communications, Barrington Broadcasting, Fisher Communications, Newport Television (and predecessor Clear Channel) and Bally Sports. Other assets include wrestling promotion Ring of Honor, Tennis Channel, sports network Stadium, digital networks Comet, Charge! and TBD, and over-the-top video service Stirr. See: List of stations owned or operated by Sinclair Broadcast Group. Tegna Inc. Owns or operates 66 television stations in 54 markets, and holds properties in digital media. Comprises the broadcast television and digital media divisions of the old Gannett Company. History of FCC regulations The First Amendment to the United States Constitution included a provision that protected "freedom of the press" from Congressional action. For newspapers and other print items, in which the medium itself was practically infinite and publishers could produce as many publications as they wanted without interfering with any other publisher's ability to do the same, this was not a problem. The debut of radio broadcasting in the first part of the 20th century complicated matters; the radio spectrum is finite, and only a limited number of broadcasters could use the medium at the same time. The United States government opted to declare the entire broadcast spectrum to be government property and license the rights to use the spectrum to broadcasters. After several years of experimental broadcast licensing, the United States licensed its first commercial radio station, KDKA, in 1920. Prior to 1927, public airwaves in the United States were regulated by the United States Department of Commerce and largely litigated in the courts as the growing number of stations fought for space in the burgeoning industry. In the earliest days, radio stations were typically required to share the same standard frequency (833 kHz) and were not allowed to broadcast an entire day, instead having to sign on and off at designated times to allow competing stations to use the frequency. The Federal Radio Act of 1927 (signed into