Donald Trump just gave the green light to a deal he once trashed. On a random Saturday in February 2026, the President took to Truth Social to demand that regulators "GET THAT DEAL DONE!" He's talking about Nexstar Media Group's $6.2 billion grab for Tegna. If you've been following the drama, you know this is a massive about-face. Only three months ago, Trump was calling for "smaller" networks and warning that he wouldn't be happy if "Radical Left Networks" got any bigger.
Now? He’s calling it a "Good Deal."
This isn't just another corporate merger. It's a play for total dominance of the screens in your living room. If this goes through, Nexstar won't just be the biggest player—it'll be a behemoth reaching 80% of U.S. homes. That’s double the legal limit.
The Art of the Regulatory Flip
Back in November 2025, Trump's opposition seemed set in stone. He linked to articles claiming that lifting ownership caps would be a "disaster for conservatives." He was worried that letting these companies grow would somehow help his enemies at ABC or NBC. But Nexstar CEO Perry Sook played his cards right. Instead of fighting the "fake news" label, he leaned into it.
Sook started talking about "fact-based, unbiased local news" and "eliminating activist journalism." Basically, he told Trump exactly what he wanted to hear. It worked. Trump’s new logic is that a super-sized Nexstar-Tegna entity will provide "more competition" against the national networks he hates. He's framing it as a way to "knock out the Fake News."
It’s a classic "the enemy of my enemy is my friend" strategy. By positioning local broadcasters as a populist alternative to "New York and Hollywood" programming, Nexstar managed to turn a regulatory nightmare into a political crusade.
Breaking the 39 Percent Rule
You need to understand the 39% cap to see how wild this is. Right now, the FCC says no single company can own enough TV stations to reach more than 39% of the country. It’s an old rule meant to stop one person from controlling everything you see.
Nexstar and Tegna combined would smash that limit. We’re talking about 265 stations across 44 states. They’d own the local news in 132 different markets. FCC Chairman Brendan Carr, a Trump appointee, is already echoing the President. He calls the current limits "antiquated" and "arcane." Carr wants to deregulate the whole industry to let broadcasters compete with Big Tech giants like Google and Meta.
But there’s a catch. Some argue the FCC doesn't even have the power to change this rule—only Congress does. If Carr tries to push this through on his own, expect a decade of lawsuits.
What This Means for Your Cable Bill
Let's get real about why this matters to you. When these companies merge, they get massive leverage over cable and satellite providers like Comcast or DirecTV. They demand "retransmission fees" to carry their local channels.
- Higher Fees: If Nexstar-Tegna controls the signal in your city, your cable company has to pay whatever they ask.
- Monthly Bills: Guess who pays for that? You. Those fees get passed directly to your monthly statement.
- Blackouts: If the cable company refuses to pay, the station goes dark. Remember those "Channel X has been removed" screens? Expect a lot more of those.
It’s not just about politics; it’s about the "negotiating power" that comes with reaching 80% of the country. If you can threaten to black out local news for most of America, you can charge whatever you want.
The Newsmax Factor
Not every conservative is cheering. Chris Ruddy over at Newsmax is actually fighting this. Why? Because he knows that if Nexstar gets this big, they can push independent channels like his off the dial or demand a bigger cut of the revenue.
Ruddy has been vocal on Capitol Hill, arguing that this kind of consolidation kills competition. It's a rare moment where Newsmax and media watchdog groups are on the same side. They both see a future where one or two massive companies decide what news is "allowed" to reach your TV.
Moving Toward a Done Deal
Wall Street definitely thinks the path is clear. Nexstar shares jumped nearly 9% the Monday after Trump’s post. The market sees the "Get That Deal Done" order as the final hurdle falling away. Even the Department of Justice, which usually looks at these things through an antitrust lens, is in flux after the recent resignation of its antitrust chief.
If you’re a shareholder, you're probably happy. If you’re a viewer worried about your local news becoming a megaphone for a single corporate office in Texas, you've got plenty of reasons to be nervous.
Keep an eye on the FCC’s next move. If they grant a "waiver" to the 39% cap instead of trying to change the law, the deal could close by the end of 2026. Check your local station's ownership—if it’s a Tegna station, expect the Nexstar branding to arrive sooner rather than later. For everyone else, keep an eye on your next cable bill. The "competition" Trump is talking about usually comes with a price tag.
