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.

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.

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

Nexstar’s proposed $6.2 billion acquisition of Tegna could bring Cleveland’s WJW and WKYC under one owner, but regulatory hurdles make the deal’s local impact uncertain.

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