“We need more competition against THE ENEMY, the Fake News National TV Networks,” said President Donald Trump in a Saturday 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.”
Nexstar and Tegna, two major media companies, announced in August that they had entered into an agreement for Nexstar to acquire all outstanding Tegna shares. It valued the transaction at $6.2 billion.
“Following completion of the transaction, the combined entity will be a leading local media company, well-positioned to compete in today’s fragmented and rapidly evolving marketplace,” said Nexstar.
However, there are a few wrinkles that would need to be ironed out before that could happen. POLITICO noted that an agreement between Nexstar and Tegna would violate a rule from the Federal Communications Commission limiting how many television stations a single company can operate.
According to Deadline, Nexstar would have 265 stations in 44 states and the District of Columbia if the deal ultimately goes through. That means it would represent 80% of U.S. TV households, “far larger than any other station group,” and more than the 39% of the country limit that kicks in the requirement for a waiver from the Federal Communications Commission, per the outlet.
In order for the deal to move forward, Deadline said Nexstar would need the FCC waiver, led by Trump appointee Brendan Carr. If his reaction to Trump’s social media post is any indication, that hurdle won’t be too hard to jump.
“President Trump is exactly right,” he said in a Saturday X post. “The national networks like Comcast & Disney have amassed too much power. For years, they’ve been pushing this Hollywood & New York programming all over the country with no real checks. Let’s get it done and bring real competition to them.”
You might remember seeing headlines about Trump, Carr and Nextstar last year, when the company (along with other major media companies) booted ABC’s Jimmy Kimmel Live! off the air temporarily after its host made controversial comments about the alleged killer of conservative activist Charlie Kirk. Kimmel is a frequent critic of Trump.
“Perhaps in an effort to curry favor, Nexstar has aligned itself with the administration in the recent past,” said POLITICO, citing the decision to temporarily pull Kimmel’s show. In its August announcement, Nexstar Chairman and Chief Executive Officer, Perry A. Sook said “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.”
Just before its parent company Paramount with Skydance – a company owned by the son of Republican donor Larry Ellison – last year, CBS announced that talk show Stephen Colbert’s “The Late Show” would be ending. Colbert is also a frequent critic of Trump. CBS News also brought in Bari Weiss as editor-in-chief last October after the merger.
The New Yorker described the move as a “hostile takeover.”
“The network’s new editor-in-chief has championed a press free from élite bias, while aligning herself with a billionaire class more willing than ever to indulge Donald Trump,” it said.
While Trump is in favor of the deal between Nexstar (which has affiliate agreements with both ABC and CBS) and Tegna, POLITICO noted that it is ruffling some feathers among conservative media executives.
“The Nexstar deal means dangerous consolidation that will limit competition, harm conservative voices and dramatically increase consumer cable bills,” said Newsmax said in a Saturday statement cited by the outlet.
“We hope the president will reconsider his position.”
Newsmax CEO Chris Ruddy has long stood against lifting the FCC cap, POLITICO explained. In November, Ruddy told the outlet that “it’s not going to work,” and said the FCC would need to go to “potentially illegal lengths.”
Charles Herring, the president of pro-Trump television news channel One America News Network, has also voiced opposition to media consolidation in the past.
“Only competition (not consolidation) serves Americans,” Herring wrote in a post on X last September. “Keep markets open & free. Competition serves the consumer and our democracy.”
OAN did not immediately respond to requests for comment on the stand Trump took Saturday, said POLITICO. Tegna and Nexstar also did not respond to requests for comment, the outlet added.
“Those that are opposed don’t fully understand how good the concept of this Deal is for them, but they will in the future,” said Trump in his Saturday Truth Social post. “GET THAT DEAL DONE!”