President Trump reversed course on Saturday and appeared to endorse Nexstar Media Group’s $6.2 billion purchase of its rival Tegna.
In a post on Truth Social, the president said “we need more competition against THE ENEMY, the Fake News National TV Networks,” and that “good deals” like Nexstar’s purchase of Tegna will “help knock out the Fake News because there will be more competition.”
“Those that are opposed don’t fully understand how good the concept of this Deal is for them, but they will in the future. GET THAT DEAL DONE!” he wrote.
Nexstar’s acquisition of Tegna, which was announced in August, requires regulatory approval. The deal would bring together two companies with significant holdings in local broadcast media, expanding Nexstar’s reach in the U.S. television and local news landscape. Nexstar oversees more than 200 owned and partner stations in 116 markets nationwide today and also runs networks like The CW and NewsNation. Tegna owns 64 news stations across 51 markets.
If approved by Tegna shareholders, the deal is expected to close in the second half of 2026.
In November, Mr. Trump criticized the purchase. “If this would also allow the Radical Left Networks to ‘enlarge,’ I would not be happy,” he wrote then.
But the companies operate independently of the large broadcast networks. In September, Nexstar, along with the right-leaning Sinclair Broadcast Group, suspended Jimmy Kimmel’s ABC late-night talk show for about a week after Kimmel’s comments on the assassination of conservative activist Charlie Kirk.
The deal has occurred as the Federal Communications Commission is seeking to reform rules that limit local TV station ownership. Some court decisions have also struck down regulations that limited the number of top TV stations in a single market that one company could own.
Nexstar has sought to portray the deal as consistent with the Trump administration’s deregulatory moves.
“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’s CEO, Perry Sook, said when announcing the deal.
The news of the acquisition came as more Americans shift from cable — in what’s known as “cord-cutting” — to streaming. According to a July 2025 Gallup poll of around 10,000 U.S. adults, 83% said they watch streaming services, while 36% said they currently subscribe to cable or satellite TV at home.
