By Frank Macek The announcement that Nexstar Media Group and TEGNA have reached a deal to merge by the second half of 2026 has sent shockwaves through the broadcasting world. On paper, it is a simple story of consolidation: the nation’s largest local broadcaster buying another major group to expand its footprint even further. But beneath the headlines lies a much more complicated tale of politics, law, and regulatory maneuvering that will determine whether this megadeal actually happens. For Nexstar and TEGNA, the road to the altar is anything but straightforward, and the forces lining up for and against it reveal how much the future of local television hangs in the balance. At its core, the Nexstar-TEGNA deal is about scale. Together, the two companies would own around 265 television stations, reaching nearly 80 percent of U.S. television households. That is an extraordinary figure, one that dwarfs competitors like Sinclair, Gray, and Paramount Global. The problem is obvious: t...