Nexstar CEO Perry Sook is openly acknowledging what critics of media consolidation have long feared: The future of local television in the United States may ultimately rest in the hands of just a few powerful station groups.

Sook made the remarks as Nexstar announced plans to nationalize its local news shows across the country with segments provided by NewsNation, the company's cable news channel.

In candid remarks during a one-on-one interview at the NAB Show in Las Vegas this week, Sook said he believes "two or three companies" will eventually control the nation's local TV landscape, citing mounting financial pressures across the industry.

"It's a matter of time," Sook said. "Make no mistake about it. There are many companies in both television and radio that are financially struggling right now."

Nexstar has projected with its recently proposed $6.2 billion merger with Tegna it will generate more than $2.3 billion in EBITDA — earnings before interest, taxes, depreciation, and amortization.

Sook's comments come amid intensifying scrutiny of Nexstar's aggressive expansion strategy — one that critics say is simply being done to amplify profits at the expense of local news and the public interest.

Last week, a federal judge in California blocked the deal, raising antitrust concerns and creating significant uncertainty around the company's growth ambitions.

If ultimately approved, the Nexstar-Tegna merger would dramatically reshape the media landscape.

The combined company would have unprecedented reach — reaching approximately 80% of U.S. households, more than double the current 39% national ownership cap imposed by federal law.

Nexstar would also own about 260 TV stations across 44 states — more than ABC, CBS, NBC, and Fox own combined.

The merger also proposes Nexstar would own two to four major stations in 23 markets, violating longtime Federal Communications Commission rules blocking ownership of more than a single major station.

This unprecedented scale has fueled criticism that Nexstar is seeking outsized control over local broadcasting.

Sook has pushed back forcefully against those claims, dismissing the idea that Nexstar would become a "broadcast behemoth."

Sook argued that traditional broadcasters are dwarfed by tech giants like Amazon, Google, and Meta, as well as major distributors like DirecTV, which he noted is "twice the size" of Nexstar.

Still, regulators and lawmakers remain skeptical.

In federal court, U.S. District Court Chief Judge Troy Nunley has already signaled that aspects of the merger could violate Justice Department antitrust standards, underscoring the significant legal hurdles Nexstar faces.

The controversy extends beyond ownership limits.

Nexstar has also outlined plans to "nationalize" portions of its local news operations, shifting away from content provided by traditional broadcast networks and instead relying on its own cable channel, NewsNation, to supply national segments.

Sook argued it would not mean a loss of journalism jobs at the local level, but critics note that when Nexstar merged with Tribune in 2019, it fired about 20% of its staff — mostly journalists — in the year that followed.

At the same time Sook says he is doing the merger to support local journalism, Nexstar laid out plans to put national news into its local TV news broadcasts.

Sook envisions NewsNation becoming the "exclusive wire service and national news partner" for Nexstar's local stations, replacing third-party content providers.

The left-leaning NewsNation is owned by Nexstar and leads its prime-time lineup with Chris Cuomo, among other liberal hosts.

The channel has been highly critical of President Donald Trump and his policies. In the 2024 election, Nexstar employees donated nearly 80% of their campaign donations to Kamala Harris.

Critics argue that putting NewsNation into local TV news could reduce editorial diversity and centralize control over local news content.

Opposition to the merger has been fierce.

DirecTV, one of the plaintiffs in the lawsuit along with eight state attorneys general, has accused Nexstar of gaining excessive leverage in retransmission negotiations.

Sook countered by accusing DirecTV of routinely engaging in disputes with broadcasters, noting that a large majority of recent blackout conflicts have involved the satellite provider.

DirecTV has stated its efforts have been to rein in excessive retransmission fees that are passed on to subscribers.

Sook also suggested the legal challenges are politically motivated, pointing out that several state attorneys general involved in the case are facing elections.

Despite the setbacks, Nexstar plans to appeal the court's decision and continue pursuing the merger.

"We have confidence that we will prevail on the facts and on the law," Sook said.

In March, Newsmax and six state cable associations filed suit in the U.S. Court of Appeals for the D.C. Circuit to block the merger.

The suit alleges the FCC wrongfully transferred the TEGNA licenses to Nexstar, giving the combined network a reach of 80% of U.S. households. A 2004 law states such networks can only own stations reaching 39% of households.

CPAC, the National Religious Broadcasters, and the Zionist Organization of America all filed amicus briefs in the Newsmax case, arguing that the Nexstar merger violates federal law.