FCC Chair Reportedly Backs Nexstar’s $3.4B Acquisition Of Tegna Following Trump’s Public Backing

• President Donald Trump earlier in the month publicly backed their merger before opposing it in November saying that it would allow greater influence to left-leaning networks.
• The National Association of Broadcasters has called on the FCC to eliminate its nationwide television ownership regulation.

The chair of the Federal Communications Commission reportedly said that he supports Nexstar's (NXST) proposed $3.54 billion acquisition of Tegna (TGNA)

"I support that transaction. We're going to be moving forward," FCC Chair Brendan Carr told reporters, according to a Reuters report, without providing details on whether the deal would be backed at the staff level or by the full commission.

Carr’s comments come after President Donald Trump earlier in the month publicly backed the merger that would create the largest U.S. regional TV station operator, before opposing it in November, saying it would allow greater influence to left-leaning networks.

More Details

The National Association of Broadcasters has called on the FCC to eliminate its nationwide television ownership regulation, which has been in place for 85 years, arguing that it creates an uneven playing field since major technology firms are not subject to similar limits, the report said. 

Chris Ruddy, CEO of Newsmax told Congress this month that the station ownership cap "remains one of the last meaningful protections for competition and diversity in the broadcast and cable ecosystem," the report added. 

Carr has said he believes the cap could be revised by the commission without approval of Congress, as per the report. 

Meanwhile, Trump wrote in a social media post on Saturday, "We need more competition against THE ENEMY, the Fake News National TV Networks. GET THAT DEAL DONE!”

The companies announced the deal in Nov. 2025, and currently plan to close the transaction in the second half of 2026.

Nexstar And Tegna’s Reach

Nexstar owns or partners with more than 200 stations in the U.S., while Tegna runs 64 stations and networks. 

For the deal to go through, the FCC must permit the deal to bypass a statutory limit that caps a single TV entity from having a reach beyond 39% of all U.S. TV households. 

How Did Stocktwits Users React?

On Stocktwits, the retail sentiment was ‘neutral’ for Nexstar and Tegna in the past 24 hours. 

Nexstar and Tegna shares have risen 56% and 15.6%, respectively, over the past year.

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