• by Wayne Friedman , February 9, 2026

Nexstar Media Group -- the biggest owner of U.S. television stations -- is looking to get federal approval to buy Tegna in its proposed deal valued at $6.2 billion.

In somewhat of a reversal, President Trump in a social media post said: “Letting Good Deals get done like Nexstar – Tegna will help knock out the Fake News because there will be more competition. ... GET THAT DEAL DONE.”

All this aligns with the longtime position of FCC chairman Brendan Carr to free up TV station groups for more industry consolidation.

Early morning trading of Nexstar stock was up 13% to $249.28. Tegna (Gannett Co.) was up 8% to $20.68.

At the same time, many other TV station groups' stock also rose on the news. Sinclair Inc. was 7% higher at $14.63, while Gray Media rose 7% to $4.64 and E.W. Scripps increased 10% to $3.72.

Media analyst for Guggenheim Securities Curry Baker says cash flow (earnings before interest, taxes, depreciation and amortization) for 2026 is expected to rise to $2.0 billion, largely due to distribution deals -- 60% higher than in 2025.

Baker cites strong midterm election political advertising this year as well as a core “relatively stable advertising market.”