Donald Trump backs Nexstar Media's move to acquire Tegna for $6.2 billion, says ‘need more competition against enemy…’

United States President Donald Trump, on Saturday, 7 February 2026, publicly backed local conservative company Nexstar Media's move to acquire Tegna for $6.2 billion, saying that it would be good for competition against the ‘enemy’ of the fake news networks, according to a Truth Social post.

In his recent post, Donald Trump said that America needs more competition among news organisations to stand against the alleged enemy of other ‘fake news’, and deals like Nexstar Media acquiring Tegna will boost the same at a higher and sophisticated level.

“We need more competition against THE ENEMY, the Fake News National TV Networks. Letting Good Deals get done like Nexstar - Tegna will help knock out the Fake News because there will be more competition, and at a higher and more sophisticated level,” said Trump in his post.

Trump also claimed that people who don't understand the deal are the ones who are opposing it.

“Those that are opposed don’t fully understand how good the concept of this Deal is for them, but they will in the future. GET THAT DEAL DONE!” said Trump in his post.

Nexstar Media to acquire Tegna

On 19 August 2025, Nexstar Media Group announced its plans to acquire all outstanding shares of Tenga Inc. for $22 per share via a cash transaction valued at $6.2 billion, which includes the company's debt and the estimated transaction fees and expenses of the deal.

“Nexstar will acquire all outstanding shares of TEGNA for $22.00 per share in a cash transaction valued at $6.2 billion, inclusive of TEGNA’s net debt and estimated transaction fees and expenses,” the company said in its statement.

As per the acquisition deal, the combined entity after the merger will be a local media company well-positioned to compete in today’s fragmented and rapidly evolving marketplace.

“The initiatives being pursued by the Trump administration offer local broadcasters the opportunity to expand reach, level the playing field, and compete more effectively with the Big Tech and legacy Big Media companies that have unchecked reach and vast financial resources. We believe TEGNA represents the best option for Nexstar to act on this opportunity,” said Perry A. Sook, CEO and Chairman of Nexstar.

Stocks in focus

Nexstar Media Group and Tegna Inc. stock will be in focus of the US stock market investors next week after President Trump's public backing via his social media post on Truth Social.

Nexstar Media stock closed 1.45% higher at $221.27 after Friday's Wall Street session, while Tegna stock also closed 0.32% higher at $19.07 after the market close, according to MarketWatch data.

Read all stock market news here

Read all stories by Anubhav Mukherjee

Disclaimer: This story is for educational purposes only. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.