Trump Backs Nexstar-Tegna Merger Amid Concerns Over Media Consolidation
President Donald Trump recently expressed support for a merger between Nexstar Media and Tegna, which would create the largest U.S. regional TV station operator. Despite the merger's potential to challenge major networks, it has raised concerns about media consolidation. The FCC and Senate are currently reviewing related ownership regulations.
In a move stirring debate over media consolidation, U.S. President Donald Trump openly supported the merger of Nexstar Media and Tegna, valued at $3.54 billion, on Saturday. The merger promises to create the largest regional TV station operator in the U.S., potentially challenging major networks like NBC and ABC.
Despite Trump's backing, the proposed acquisition has incited criticism from conservative outlets, pointing to potential harm to competition and elevated consumer cable costs. The Federal Communications Commission (FCC) has yet to decide on changing TV ownership caps that restrict companies from reaching more than 39% of U.S. households.
The issue is set for further examination as the Senate Committee on Commerce, Science, and Transportation, chaired by Senator Ted Cruz, gears up for a hearing on the FCC's media ownership regulations. The outcome may determine if policy revisions are needed to nurture competition while curtailing potential media monopolies.
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