Tegna Shares Plummet Amid Trump's Opposition to Nexstar Acquisition Proposal

Tegna shares fell 4.1% to $19.15 after President Trump expressed doubt about the Federal Communications Commission clearing Nexstar's $6.2 billion bid to acquire the local-TV conglomerate. Trump criticized efforts to ease the FCC's cap limiting any company from owning TV stations reaching more than 39% of the country. The deal must also clear an antitrust review from the Justice Department.