United States President Donald Trump on Saturday, February 7, 2026, publicly endorsed local conservative Nexstar Media’s move to acquire Tegna for $6.2 billion, saying it would be good for competition against the “enemy” of fake news networks, according to a post by Truth Social.
Donald Trump said in a recent post that America needs more competition among news organizations to counter the supposed enemy of other “fake news,” and deals like Nexstar Media’s acquisition of Tegna will boost the same at a higher and more sophisticated level.
“We need more competition against THE ENEMY, the Fake News National TV Networks. Letting good businesses do things like Nexstar – Tegna will help take out Fake News because there will be more competition and at a higher and more sophisticated level,” Trump said in his post.
Trump also claimed that the people who don’t understand the deal are the ones who oppose it.
“Those who are against don’t fully understand how good the concept of this deal is for them, but they will in the future. GET THE DEAL!” Trump said in his post.
Nexstar Media acquires Tegna
On August 19, 2025, Nexstar Media Group announced its plans to acquire all outstanding shares of Tenga Inc. for $22 per share in an all-cash transaction valued at $6.2 billion, which includes the company’s debt and estimated transaction fees and transaction costs.
“Nexstar will acquire all of TEGNA’s outstanding shares for $22.00 per share in cash valued at $6.2 billion, including TEGNA’s net debt and estimated transaction fees and expenses,” the company said in a statement.
According to the acquisition agreement, the merged entity will be a local media company well-positioned to compete in today’s fragmented and rapidly evolving market.
“Initiatives being pursued by the Trump administration offer local broadcasters an opportunity to expand their reach, level the playing field and compete more effectively with Big Tech and legacy Big Media companies that have unchecked reach and vast financial resources. We believe TEGNA represents the best opportunity for Nexstar to capitalize on this opportunity,” said Perry A. Sook, CEO and Chairman of Nexstar.
Action in the spotlight
Shares of Nexstar Media Group and Tegna Inc. will be the focus of investors in the US stock market next week after President Trump publicly endorsed his social media post on Truth Social.
Shares of Nexstar Media closed up 1.45% at $221.27 after the session on Wall Street Friday, while Tegna shares closed up 0.32% at $19.07 after the close, according to MarketWatch data.
Read all stories by Anubhav Mukherjee
Disclaimer: This story is for educational purposes only. Investors are encouraged to consult with certified professionals before making any investment decision, as market conditions can change rapidly and circumstances may vary.