Trump backs Nexstar-Tegna merger, says big TV networks need more competition

U.S. President Donald Trump has publicly supported the proposed merger between Nexstar Media and Tegna, which would create the largest regional TV station operator in the U.S. Trump argues that this merger would enhance competition against major networks, which he refers to as "Fake News." The merger, valued at $3.54 billion, is pending approval from the FCC, which has yet to decide on lifting the ownership cap that limits station ownership. A Senate hearing is scheduled to discuss media ownership rules.