Today we’re going to be looking at the largest such local TV station owner/operator in the United States, Nexstar Media Group ( NASDAQ: NXST ). They’re looking to get even bigger through an announced acquisition of Tegna ( TGNA ), a substantial competitor.

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

KOIN 6 News’ Parent Company, Nexstar Media Group, announced it has entered into an agreement to acquire TEGNA, pending regulatory approval. Nexstar currently owns and operates more than 200 local TV stations across the country.

A former marketing producer for WTHR shares concerns of potential layoffs due to potential Nexstar Media Group acquisition of TEGNA.

Nexstar Media Group is buying broadcast rival Tegna for $6.2 billion, which will help strengthen its local news offerings.