In a notable shift, former President Donald Trump has publicly endorsed the proposed $6.2 billion acquisition of broadcast rival Tegna by Nexstar Media Group, a move that appears to contradict his previous criticisms of the deal. The endorsement came via a social media post on Saturday, where Trump framed the transaction as a necessary step to increase competition against what he termed "THE ENEMY, the Fake News National TV Networks."
Trump's Reversal on the Broadcast Merger
Trump's latest statement marks a clear reversal from his position in November, when he expressed concerns that the deal might allow "Radical Left Networks" to enlarge. In his Saturday post, he urged regulators to "GET THAT DEAL DONE," arguing that allowing "Good Deals" like Nexstar-Tegna would help "knock out the Fake News" by fostering more competition in the broadcast television landscape.
Details of the Nexstar-Tegna Acquisition
The acquisition, which Nexstar announced in August and is pending regulatory approval, would consolidate two significant players in local broadcast media. Nexstar currently oversees more than 200 owned and partner stations across 116 markets nationwide, and also operates networks such as The CW and NewsNation. Tegna, on the other hand, owns 64 news stations spread across 51 markets. The combined entity would create a formidable presence in local television broadcasting.
Regulatory and Political Context
This deal emerges amid ongoing efforts by the Federal Communications Commission to reform rules that limit local TV station ownership. Recent court decisions have also struck down regulations restricting the number of top TV stations a single company can own in a single market. Nexstar has strategically positioned the acquisition as aligning with the Trump administration's deregulatory agenda. Perry Sook, Nexstar's CEO, stated at the deal's announcement that the Trump administration's initiatives provide local broadcasters with opportunities to expand reach, level the playing field, and compete more effectively against Big Tech and legacy Big Media companies.
Broader Implications for Media Competition
The endorsement from Trump highlights the politically charged nature of media consolidation. Notably, Nexstar, along with the right-leaning Sinclair Broadcast Group, previously suspended Jimmy Kimmel's ABC late-night talk show for about a week following Kimmel's comments on the assassination of conservative activist Charlie Kirk. This incident underscores the independent operational stance of these companies from major broadcast networks like ABC and NBC, a point that may have influenced Trump's changed perspective. As the regulatory review progresses, the Nexstar-Tegna deal will likely continue to spark debate over media ownership, competition, and the influence of political figures on broadcast television dynamics.
