Trump backs broadcast TV deal to ‘knock out fake news’
US President Donald Trump has approved Nexstar Media Group’s US$6.2 billion ($8.8 billion) acquisition of streaming rival Tegna; This is a clear reversal of previous criticisms of the agreement.
“We need more competition against the ENEMY, the Fake News National TV Networks,” Trump wrote on social media. “Allowing Good Deals to be made like Nexstar — Tegna will help eliminate Fake News because there will be more competition. … MAKE THIS DEAL.”
The acquisition, which Nexstar announced in August and requires regulatory approval, would bring together two companies with significant holdings in local broadcast media.
Nexstar operates more than 200 owned and affiliated stations in 116 markets nationwide and also operates networks such as The CW and NewsNation. Tegna, meanwhile, has 64 news stations in 51 markets.
Trump criticized the purchase in November, saying: “I wouldn’t be happy if it also allowed for the ‘expansion’ of Radical Left Networks.”
But the companies operate independently of major broadcast networks such as ABC and NBC. In September, Nexstar, along with the right-leaning Sinclair Broadcast Group, suspended Jimmy Kimmel’s ABC late-night talk show for nearly a week following Kimmel’s comments regarding the assassination of conservative activist Charlie Kirk.
The deal comes as the Federal Communications Commission seeks to reform rules limiting local TV station ownership. Some court decisions have also struck down regulations that limited the number of top TV stations a company could own in a single market.
Nexstar has sought to portray the deal as consistent with the Trump administration’s deregulation push.
“Initiatives driven by the Trump administration provide an opportunity for local broadcasters to expand access, level the playing field, and compete more effectively with Big Tech and legacy Big Media companies with uncontrolled reach and vast financial resources,” Nexstar CEO Perry Sook said in announcing the deal.
However, some conservative voices still oppose the agreement.
“The Nexstar deal amounts to dangerous consolidation that will limit competition, harm conservative voices, and significantly increase consumer cable bills,” right-leaning news channel Newsmax said in a statement.
“President Trump was right in November to call for smaller networks and preservation of TV ownership limits to limit major broadcast consolidation.”
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