Irving-based Nexstar Media has agreed to buy smaller rival Tegna for $3.54 billion, creating a local-TV powerhouse that seeks to compete better with big

Nexstar Media will acquire rival broadcast company Tegna for $6.2 billion according to a joint announcement on Tuesday, another sign of consolidation in an already contracting TV broadcast sector.

The initiatives being pursued by the Trump administration offer local broadcasters the opportunity to expand reach, level the playing field, and compete more effectively,’ Perry Sook said in a statement on Tuesday.

Nextstar is looking to buy Tegna in a $6.2 billion cash deal — but will the FCC allow it despite a conflict with current TV ownership rules?

The Irving, TX-based Nexstar, which owns Los Angeles outlet KTLA, will pay $22 a share for Tegna in a deal valued at $6.2 billion. The offer is 30% over the 30-day average of Tegna’s closing stock price on Aug. 8.

About a week after Hunt Valley-based Sinclair Inc. said it will consider buying or selling TV stations as broadcast deals heat up, a $6.2 billion deal between two rivals could set off an industry

(NEXSTAR) — Two Americans are dead after separate drowning incidents at a multi-million dollar “exclusive” vacation destination in the Bahamas, according to authorities.