Nextstar is looking to buy Tegna in a $6.2 billion cash deal — but will the FCC allow it despite a conflict with current TV ownership rules?

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 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.

Nexstar Media Group, which owns and operates WTTV (CBS 4) and WXIN (FOX 59), announced on Aug. 19 that it had entered into an agreement to acquire TEGNA, the parent company of WTHR (NBC 13). This means three Indianapolis-based television news organizations will be owned and operated by one company.

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

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