To close the deal, Nexstar will need approval from the Federal Communications Commission, which could cement its position as the biggest provider of local TV in the U.S.

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.