In Reversal, Trump Backs Nexstar’s Proposed Acquisition of Tegna

President Donald Trump has reversed his earlier stance, publicly endorsing Nexstar Media Group’s proposed $6.2 billion acquisition of rival Tegna, arguing it will foster competition against “Fake News” national networks.[1][2][3] In a Truth Social post on Saturday, Trump urged regulators to “GET THAT DEAL DONE!” highlighting how the merger would challenge dominant players like Comcast and Disney.[1][3]

From Opposition to Strong Support

Trump’s endorsement marks a significant shift from his November 2025 position. Back then, he criticized efforts to lift FCC ownership caps, warning they could allow “Radical Left Networks” like NBC and ABC to expand, stating he “would not be happy” if that occurred.[1][2][3] He linked to a Newsmax article decrying the changes as a “disaster for conservatives” and called for making such networks “SMALLER!”[3]

Now, Trump frames the Nexstar-Tegna deal differently. “We need more competition against THE ENEMY, the Fake News National TV Networks,” he wrote. “Letting Good Deals get done like Nexstar – Tegna will help knock out the Fake News because there will be more competition, and at a higher and more sophisticated level.”[1][2][3] He dismissed opponents, saying they “don’t fully understand how good the concept of this Deal is for them, but they will in the future.”[1][3]

This pivot aligns with broader deregulatory pushes under the Trump administration. Nexstar CEO Perry Sook has positioned the deal as a way for local broadcasters to “expand reach, level the playing field, and compete more effectively with the Big Tech and legacy Big Media companies.”[1]

FCC Chair Echoes Trump’s Call

FCC Chairman Brendan Carr quickly amplified Trump’s support. “President Trump is exactly right,” Carr posted on social media. “The national networks like Comcast & Disney have amassed too much power. For years, they’ve been pushing this Hollywood & New York programming all over the country with no real checks. Let’s get it done and bring real competition to them.”[1][3]

Carr’s comments signal potential regulatory green lights. The FCC is reviewing rules limiting local TV station ownership, including the 39% national audience reach cap that a single company cannot exceed.[2][3] Recent court decisions have struck down some restrictions on top TV stations in single markets, paving the way for consolidation.[1] A Senate Commerce Committee hearing on these rules, chaired by Sen. Ted Cruz (R-TX), is set for Tuesday, where Cruz has called for updates to promote competition and counter “corporate censorship against conservatives.”[2]

The Deal’s Scope and Industry Impact

Announced in August 2025, the acquisition values Tegna at around $3.54 billion to $6.2 billion across reports, creating the largest U.S. regional TV operator.[1][2] Nexstar already oversees more than 200 owned and partner stations in 116 markets, plus networks like The CW and NewsNation.[1][2] Tegna operates 64 stations in 51 markets, including brands like True Crime Network and Quest, and local outlets such as Boise’s KTVB.[1][2]

Combined, the entities would reach 80% of TV households in key markets, boosting leverage with advertisers and pay-TV distributors amid cord-cutting trends.[2] A July 2025 Gallup poll found 83% of U.S. adults use streaming services, versus 36% with cable or satellite subscriptions, squeezing local media revenues.[1]

Nexstar and allies like Sinclair Broadcast Group have demonstrated independence from national networks. In September 2025, they suspended ABC’s Jimmy Kimmel Live! for a week over host comments on conservative activist Charlie Kirk’s fictional assassination—highlighting tensions with “Hollywood & New York programming.”[1]

Opposition and Broader Context

Not everyone welcomes Trump’s support. Newsmax, a conservative outlet, reiterated its November stance: “President Trump was right in November when he called for smaller networks and for keeping TV ownership caps to limit massive broadcast consolidation.”[2] It warned the deal means “dangerous consolidation that will limit competition, harm conservative voices and dramatically increase consumer cable bills,” urging Trump to reconsider.[2]

Despite this, momentum appears to favor approval. The deal awaits Tegna shareholder votes and regulatory nods, with closure eyed for the second half of 2026.[1][2] Nexstar, Tegna, the FCC, and Sen. Cruz’s office have not commented further.[2]

Why This Matters for Media and Viewers

Trump’s reversal underscores his evolving media strategy: targeting national networks while backing local players he views as counterweights. For an industry battered by streaming—where platforms like Netflix and YouTube dominate—this merger could consolidate resources for quality local news and programming.[1] Yet critics fear higher costs and reduced diversity.

As cord-cutters flock to on-demand options, deals like this test whether bigger local broadcasters can thrive or if further fragmentation awaits. Trump’s “GET THAT DEAL DONE!” rally cry may accelerate FCC reforms, reshaping America’s TV landscape.[1][3]

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Original source: CNBC Business – In reversal, Trump backs Nexstar’s proposed acquisition of Tegna