Nexstar, the No. 1 owner of TV stations in the U.S., is acquiring rival Tegna in a deal that challenges decade-old limits on control of local media.

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.

With the announced sale of 10TV, two companies may own Central Ohio's four commercial television stations by the end of 2026.

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.

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 three broadcast companies divide Portland's TV market.

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