In a notable development on Saturday, President Donald Trump voiced support for Nexstar Media Group's $6.2 billion deal to acquire Tegna, a fellow broadcaster. This marks a reversal from his earlier reservations expressed in November, signaling a shift towards endorsing the consolidation.
Trump’s endorsement came through social media, where he highlighted the deal's potential to increase competition against what he refers to as "THE ENEMY," a term he uses for mainstream national TV news networks. He asserted that allowing transactions like the Nexstar-Tegna merger would promote competition and help curb the influence of what he describes as "Fake News." His message included a call to finalize the agreement: "GET THAT DEAL DONE."
The announced acquisition, publicized by Nexstar in August, is currently pending regulatory approval. If completed, it would integrate Nexstar's extensive portfolio of over 200 owned and partner television stations across 116 markets nationwide, and its operation of networks such as The CW and NewsNation, with Tegna's ownership of 64 news stations in 51 markets.
Earlier in November, Trump had expressed concerns that the acquisition might enable the expansion of "Radical Left Networks," indicating potential displeasure with the deal at that time. However, the companies involved operate independently from the major broadcast networks like ABC and NBC, which are typically associated with national programming.
Moreover, in September, Nexstar, alongside Sinclair Broadcast Group—a network known for its right-leaning editorial slant—implemented a temporary suspension of Jimmy Kimmel's ABC late-night talk show. This decision followed Kimmel’s commentary on the assassination of conservative activist Charlie Kirk, underscoring Nexstar’s distinct operational stance within the broadcast ecosystem.
Concurrently, the Federal Communications Commission (FCC) is pursuing rule reforms targeting the ownership limitations on local television stations. Several court rulings have also invalidated prior regulations that restricted the number of top-rated stations a single company can control within a market, potentially facilitating larger media consolidations.
In framing the purchase of Tegna, Nexstar has positioned its strategy to resonate with the deregulatory initiatives of the current administration. Perry Sook, Nexstar’s CEO, stated at the deal’s announcement that these governmental efforts "offer local broadcasters the opportunity to expand reach, level the playing field, and compete more effectively with the Big Tech and legacy Big Media companies that have unchecked reach and vast financial resources." This statement situates the merger within the broader challenge local broadcasters face in competing with dominant digital and traditional media giants.