Trump throws support behind Nexstar-Tegna broadcast deal he once opposed

President Trump has made a surprising reversal in his stance on Nexstar Media Group’s $6.2 billion acquisition of Tegna, a rival media company. In a post on his social media platform, Truth Social, the president endorsed the deal, citing the need for more competition against what he calls the “Fake News National TV Networks.” Trump believes that deals like Nexstar’s purchase of Tegna will help combat fake news by introducing more competition into the media landscape.

Nexstar’s acquisition of Tegna, announced in August, is currently awaiting regulatory approval. If approved, the deal would bring together two major players in the local broadcast media industry, expanding Nexstar’s reach in the U.S. television and local news market. Nexstar currently operates over 200 owned and partner stations in 116 markets nationwide, as well as networks like The CW and NewsNation. Tegna, on the other hand, owns 64 news stations across 51 markets.

The deal is expected to close in the second half of 2026, pending approval from Tegna shareholders. This development comes at a time when the Federal Communications Commission is looking to reform rules that restrict local TV station ownership and as court decisions have overturned regulations limiting the number of top TV stations one company can own in a single market.

FCC Chairman Brendan Carr expressed support for President Trump’s endorsement of the deal, agreeing that national networks like Comcast and Disney have amassed too much power. Carr believes that introducing more competition through acquisitions like Nexstar’s purchase of Tegna will help level the playing field against big tech and legacy media companies.

Nexstar’s CEO, Perry Sook, sees the acquisition as aligning with the Trump administration’s deregulatory agenda, offering local broadcasters the opportunity to expand their reach and compete with larger media conglomerates. The shift towards streaming services and “cord-cutting” among American consumers has also played a role in driving media consolidation and acquisitions.

As more Americans turn to streaming services for their entertainment needs, traditional media companies are seeking ways to adapt and remain competitive in a rapidly changing landscape. The Nexstar-Tegna deal is just one example of how media companies are looking to consolidate their operations and expand their reach in response to evolving consumer preferences.

In conclusion, President Trump’s endorsement of Nexstar’s acquisition of Tegna reflects a broader trend in the media industry towards consolidation and competition. As technology continues to reshape how we consume news and entertainment, companies like Nexstar are seeking ways to stay relevant and competitive in a crowded media landscape. The future of media ownership and regulation remains uncertain, but one thing is clear – the battle for viewership and influence is only just beginning.