WASHINGTON (AP) — President Donald Trump on Saturday backed Nexstar Media Group’s $6.2 billion acquisition of broadcast rival Tegna, a stark reversal from previous criticism of the deal.
“We need more competition with our enemy, the Fake News National Television Network,” Trump wrote on social media. “A good deal like Nexstar-Tegna will help eliminate Fake News because competition will be fiercer. … Get this deal done.”
The acquisition, which Nexstar announced in August and is subject to regulatory approval, will bring together two companies with large stakes in local broadcast media. Nexstar oversees more than 200 owned and partnered stations in 116 markets across the country and operates networks such as The CW and NewsNation. Tegna, meanwhile, has 64 news stations in 51 markets.
In November, Trump criticized the purchase. “I would not be happy if this also allowed radical left networks to ‘expand’,” he wrote at the time.
But these companies operate independently from large broadcast networks such as ABC and NBC. In September, Nexstar joined the right-leaning Sinclair Broadcast Group in suspending Jimmy Kimmel’s ABC late-night talk show for about a week after he made comments about the assassination of conservative activist Charlie Kirk.
The deal comes as the Federal Communications Commission seeks to reform rules that limit ownership of local TV stations. Some court decisions have also struck down rules that limited the number of top TV stations a company could own in a single market.
Nexstar sought to portray the deal as consistent with the Trump administration’s deregulatory initiatives.
“The initiatives being pursued by the Trump Administration provide local broadcasters with the opportunity to expand their reach, level the playing field and compete more effectively with Big Tech and traditional big media companies that have unfettered influence and significant financial resources,” Nexstar CEO Perry Sook said in announcing the deal.
