WASHINGTON, Nov 24 (Reuters) - Shares in Tegna ( TGNA )

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 ( NXST ).

Acquiring Tegna ( TGNA ) would expand Nexstar's 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 ( CMCSA )-owned NBC or Disney ( DIS )-owned ABC

to expand.