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President Donald Trump on Saturday endorsed Nexstar Media‘s proposed $6.2 billion acquisition of Tegna, just months after criticizing the deal.
“We need more competition against THE ENEMY, the Fake News National TV Networks,” Trump wrote in a Truth Social post. “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. 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!”
Under the agreement, Nexstar, which owns or partners with over 200 stations, would add Tegna’s 64 stations — covering roughly 80% of the country. The deal, announced in August 2025, was expected to close in the second half of 2026.
Trump’s backing of the Nexstar-Tegna deal marks an abrupt turnaround. In a Truth Social post in November, Trump railed against the Nexstar-Tegna deal and the potential for more industry consolidation.
“If this would also allow the Radical Left Networks to ‘enlarge,’ I would not be happy,” Trump wrote. “ABC & NBC, in particular, are a disaster – A VIRTUAL ARM OF THE DEMOCRAT PARTY. They should be viewed as an illegal campaign to the Radical Left. NO EXPANSION OF THE FAKE NEWS NETWORKS. If anything, make them SMALLER!”
Nexstar, Tegna and the White House did not immediately respond to a CNBC request for comment.
The proposed Nexstar-Tegna deal is part of a string of recent media consolidation efforts as cord-cutting threatens the industry.
“We believe that broadcast news is essential to this country and a free democracy, independent local news, and that broadcast TV is basically the last bastion of local news at the local level, and our goal is to become a bigger company and hopefully be able to compete on a level playing field with Big Tech that is pervasive in all aspects of media,” Nexstar CEO Perry Sook told CNBC after the deal announcement.
Currently, the Federal Communications Commission prohibits a company from owning broadcast stations that reach more than 39% of U.S. households to foster competition. For Nexstar’s deal to go through, the FCC would have to lift that rule.
“We are focused on achieving deregulation, and we continue to advocate for the elimination of the antiquated constraints on local television ownership as the best solution to level the competitive playing field for all media,” Sook said in a November release when requesting approval for the Tegna deal.
In September, Nexstar was the first media company to preempt “Jimmy Kimmel Live!” after the late-night talk show’s host made comments about the assassination of conservative activist Charlie Kirk.