WASHINGTON, Feb 7 (Reuters) – U.S. President Donald Trump on Saturday publicly backed a proposed merger between native tv station operator Nexstar Media and its smaller rival Tegna.
“We want extra competitors towards THE ENEMY, the Faux Information Nationwide TV Networks,” Trump wrote in a social media submit. “GET THAT DEAL DONE!”
Nexstar final yr proposed a $3.54 billion acquisition of Tegna that will make the mixed entity the biggest U.S. regional TV station operator, with extra leverage with advertisers and pay-TV distributors. Native media is grappling with falling income and subscriber loss due to the recognition of streaming companies.
Trump’s Saturday submit on Truth Social appears to strike a distinct tone from November, when he criticized a proposal to carry the present cap on native tv station possession, a transfer that’s essential for Tegna’s acquisition by Nexstar.
Nexstar owns or companions with greater than 200 stations and operates manufacturers similar to The CW and NewsNation, whereas Tegna runs 64 stations and networks, together with True Crime Community and Quest.
(Reporting by Lucia Mutikani and Jason Lange; Modifying by Toby Chopra, Rod Nickel)
