Nexstar Media Group, the largest TV station ownership group in the U.S., has agreed to acquire Tegna Inc.’s 64 broadcast outlets, the companies announced Tuesday.

The deal will be the first major test of the TV station ownership rules under President Trump’s Federal Communications Commission. FCC Chairman Brendan Carr has called the current rules arcane and has indicated he’s open to change.

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.

Nexstar has more than 200 stations in 116 markets, although some of are owned through partnerships. The company also owns NewsNation , the cable news channel launched in 2020, and a m

See Full Page