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?

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

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

U.S. television station owner Sinclair has made an offer to merge its broadcast TV business with smaller rival Tegna , which is in advanced talks on a potential sale to Nexstar Media Group , a person familiar with the talks told Reuters on Monday.