On Saturday, former President Donald Trump expressed his support for Nexstar Media Group's $6.2 billion acquisition of competitor Tegna. This endorsement marks a notable shift from Trump's previous skepticism regarding the deal. In a social media post, Trump emphasized the importance of enhancing competition against what he referred to as "THE ENEMY," namely the "Fake News National TV Networks." He stated that facilitating such transactions is essential to combat misinformation, claiming that allowing the Nexstar-Tegna deal would increase competition and diminish the presence of "Fake News." He urged, "GET THAT DEAL DONE."
Nexstar's acquisition of Tegna, announced in August, requires regulatory approval to proceed. The merger would consolidate two significant players in the local broadcast media landscape, with Nexstar managing over 200 owned and affiliated stations in 116 markets across the United States. Additionally, Nexstar operates networks, including The CW and NewsNation. In contrast, Tegna owns 64 news stations spanning 51 markets. The deal signals a potential reshaping of the broadcast media sector, particularly in the context of local news dissemination.
Previously, in November, Trump had voiced his concerns regarding the deal, suggesting that if it allowed "Radical Left Networks" to grow, he would be opposed to it. This change in stance illustrates a renewed perspective on the acquisition, as Nexstar and Tegna function independently from the larger broadcast networks such as ABC and NBC. Furthermore, in September, Nexstar, in conjunction with the conservative-leaning Sinclair Broadcast Group, temporarily suspended late-night host Jimmy Kimmel's ABC show in response to comments he made regarding the assassination of conservative activist Charlie Kirk, highlighting the ongoing tensions between media platforms and political figures.
The Nexstar-Tegna deal comes at a pivotal time as the Federal Communications Commission (FCC) seeks to modify regulations governing local TV station ownership. Recent court rulings have also invalidated previous restrictions limiting the number of top television stations that a single entity could own within a given market. These regulatory changes reflect the ongoing evolution and consolidation within the media landscape.
Nexstar aims to frame the acquisition as aligned with the deregulatory policies championed during the Trump administration. Perry Sook, the CEO of Nexstar, noted that the initiatives advanced by the Trump administration provide local broadcasters with opportunities to expand their reach effectively. He argued that these measures would help level the playing field, enabling local broadcasters to compete more robustly against large tech companies and established media conglomerates that possess extensive resources and market influence.
The dynamics surrounding the Nexstar and Tegna transaction mirror broader trends in the media landscape, characterized by consolidation and the continual push against perceived misinformation. As these developments unfold, the implications for both local broadcasting and national media narratives remain to be seen.
Christopher Rugaber, The Associated Press
