Nexstar beat out rival Sinclair, which was offering between $25 and $30 per share, significantly above Nexstar’s winning bid.

The biggest owner of US TV stations is trying to get even bigger, believing the Trump administration will allow it to do so.

Nexstar, the No. 1 owner of TV stations in the U.S., is acquiring rival Tegna in a deal that challenges decade-old limits on control of local media.

Upon closing of the Tegna deal, Nexstar and its partners will have 265 full-power television stations in 44 states and Washington, D.C., covering 132 of the country’s 210 television markets covering 80% of U.S. TV households, the companies said. The combined company will have stations in nine of the top 10 markets, and 41 of the top 50.

Tysons, Virginia-based broadcaster Tegna, whose 64 stations include WUSA Channel 9 in D.C., agreed to be acquired by larger local TV station owner Nexstar.

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Nexstar Media Group Inc. agreed to buy TV station operator Tegna Inc. for $3.5 billion in a deal that stands to dramatically expand Nexstar’s reach and test the Trump administration’s appetite for regulatory reform.