N exstar Media, owner of Fox 40 (KTXL), announced Monday it plans to acquire Tegna, the parent company of ABC 10 (KXTV), in a $6.2 billion cash deal that includes Tegna's outstanding debt.

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.

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