On Saturday morning, President Donald Trump publicly endorsed Nexstar Media Group’s $6.2 billion purchase of Tegna, urging regulators to approve the deal as a way to weaken media he views as hostile.
“We need more competition against THE ENEMY, the Fake News National TV Networks,” Trump wrote. “Letting Good Deals get done like Nexstar – Tegna will help knock out the Fake News because there will be more competition. … GET THAT DEAL DONE.”
Everyone could see exactly what he meant, which made it even more striking since it sharply contradicted Trump’s earlier stance. Only months ago, he had openly criticized the same merger, warning it could empower networks he sees as politically opposed to him.
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“If this would also allow the Radical Left Networks to ‘enlarge,’ I would not be happy,” Trump wrote in November.
That concern now appears to have vanished.
The Nexstar-Tegna deal, first announced in August, still needs regulatory approval. If it goes through, it would combine two of the country’s biggest local TV broadcasters. Nexstar runs more than 200 owned and partner stations in 116 markets and operates networks like The CW and NewsNation, while Tegna controls 64 local news stations across 51 markets.
While the companies operate independently from national networks like ABC and NBC, the combined reach would be enormous.
According to Bloomberg, Nexstar said when the deal was announced that the merged company would reach 80% of US households. Trump previously criticized that scale.
“When the deal was announced in August, Nexstar said the combined entity would reach 80% of US households,” Bloomberg reported. Trump denounced that idea in November, saying the deal “would also allow the Radical Left Networks to ‘enlarge,’” adding, “I would not be happy.”
Now, his support may be the turning point.
Federal Communications Commission rules currently limit how many local TV stations a single company can own, including a cap that prevents broadcasters from reaching more than 39% of US households. Courts have already weakened parts of those restrictions, and the FCC is considering further changes.
Nexstar has framed the merger as aligning with Trump’s deregulatory agenda.
“The initiatives being pursued by the Trump administration 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,” Nexstar CEO Perry Sook said when announcing the deal.
Trump’s backing could carry real weight.
“A Bloomberg Intelligence analysis said the missing piece for the deal to go through was Trump’s endorsement, after his November post. Now that he has voiced his support, Republican senators may be more likely to vote for the cap removal and the FCC would be more likely to approve it,” Bloomberg reported.
The merger will be discussed at a Senate hearing on February 10 focused on relaxing limits on how large broadcast companies can grow.
Featured image via Political Tribune Gallery
