Policyband

Former GOP Presidential Hopeful Steve Forbes Hammers Critics of the Nexstar-TEGNA Merger

'Their argument has the musty smell of 1985,' Forbes says in an Op-Ed posted Monday on Fox News' website

Ted Hearn

May 5, 2026 — 10 min read

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Merger: State regulators are fighting the wrong battle by trying to block Nexstar Media Group’s proposed acquisition of fellow TV station owner TEGNA, former Republican presidential hopeful Steve Forbes argued in a May 4 Fox News column. Forbes, chairman and editor‑in‑chief of Forbes Media, argued the combined company would have the scale needed to compete with global platforms such as Google, Meta, Netflix and Amazon. Blocking the deal, he wrote, would “weaken local newsrooms precisely when they need muscle,” undermining the journalism communities rely on for emergencies, accountability, and civic life. “This is not just another media merger. It is a test of whether policymakers understand the real economy — or whether they remain trapped in a regulatory museum, polishing rules written for a media world that no longer exists,” Forbes said. Forbes, 78, ran for the GOP presidential nomination in 1996 and 2000 as a strong proponent of a flat federal income tax. (More after paywall)