Nexstar Media will acquire rival broadcast company Tegna for $6.2 billion according to a joint announcement on Tuesday, another sign of consolidation in an already contracting TV broadcast sector.

To close the deal, Nexstar will need approval from the Federal Communications Commission, which could cement its position as the biggest provider of local TV in the U.S.

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.