Trump Backs Nexstar's Proposed Acquisition of Tegna, Reversing Previous Criticism

President Donald Trump has endorsed Nexstar Media's proposed $6.2 billion acquisition of Tegna, reversing his previous criticism of the deal. The agreement would add Tegna's 64 stations to Nexstar's 200, covering 80% of the country. Trump sees the deal as increasing competition against "Fake News" networks and believes it will benefit the industry. The Federal Communications Commission would need to lift its rule prohibiting a company from owning broadcast stations reaching more than 39% of U.S. households for the deal to go through.