The deal will give the former 265 television stations in 44 states and D.C., representing 80% of U.S. television households

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

Nexstar says its $6.2 billion takeover of Tegna is expected to close in the second half of 2026 — timing that would align with the lucrative wave of political ads during the midterm elections. But that plan still depends on Tegna shareholders, who may yet consider Sinclair’s competing offer.

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.

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

A blockbuster deal, a fallen rival, and a shot at dominating 80% of American screens--if regulators don't blink.

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.