Former President Donald Trump has reversed his earlier opposition and now supports Nexstar Media Group's $6.2 billion acquisition of Tegna, citing enhanced competition against national news networks he labels as "fake news."
Trump's Endorsement and Reversal
- On Saturday, Trump posted on Truth Social, endorsing the deal: "We need more competition against THE ENEMY, the Fake News National TV Networks... GET THAT DEAL DONE!"
- This marks an abrupt shift from his November post, where he opposed the merger, warning it could expand "Radical Left Networks" like ABC and NBC.
Deal Details and Scope
- The acquisition, announced in August 2025, involves Nexstar adding Tegna's 64 television stations.
- These stations cover approximately 80% of U.S. households, expanding Nexstar's total to over 200 stations.
- The transaction is expected to close in the second half of 2026.
Industry Context and Reactions
- The merger is part of a broader trend of media consolidation amid industry pressures from streaming services and cord-cutting.
- Nexstar CEO Perry Sook emphasized that local broadcast news is essential for democracy and competing with Big Tech.
- Nexstar, Tegna, and the White House did not immediately respond to requests for comment on Trump's endorsement.