Nexstar Media Group Inc. has agreed to buy TV station operator Tegna Inc. for $3.5 billion in cash in a deal aimed at combining two large TV station operators that could test more relaxed rules from US regulators around market dominance.

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

Enhances Nexstar’s Position as a Leading Local Media Company Preserves High-Quality Local Journalism and Diversity of Opinion Strengthens Ability to Compete with Big Tech and Big Media

Nexstar’s takeover of Tegna, enabled by Trump-era deregulation, positions the company to reach 80% of U.S. households

Within San Antonio, TEGNA oversees operations of KENS 5, while Nexstar doesn't have a dedicated station covering the Alamo City. Looking northward, it would change the media landscape within the Texas capital market,

Nexstar Media Group, the parent company of Portsmouth-based WAVY-TV and WVBT-TV, is buying local news broadcast rival Tegna, the parent company of Norfolk-based 13News Now or WVEC-TV, for $6.2