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U.S. President Donald Trump arrives back to the White House from Marine One after a visit to Joint Base Andrews, in Washington, D.C., U.S., November 22, 2025. REUTERS/Aaron Schwartz Purchase Licensing Rights, opens new tab
WASHINGTON, Nov 24 (Reuters) - Shares in Tegna (TGNA.N), opens new tab fell nearly 5% on Monday after President Donald Trump criticized a proposal to lift the current cap on local television station ownership, which is necessary for the company to be acquired by Nexstar Media.
Acquiring Tegna would expand Nexstar's (NXST.O), opens new tab presence covering 80% of TV households across key geographies under the $3.54 billion deal. Trump on Sunday posted a story on social media that said lifting the cap would be a "disaster" for conservatives and added that he would "not be happy" if the move allowed Comcast-owned NBC (CMCSA.O), opens new tab or Disney-owned ABC (DIS.N), opens new tab to expand.
Reporting by David Shepardson
Our Standards: The Thomson Reuters Trust Principles., opens new tab
