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

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.

Nexstar Media Group is buying broadcast rival Tegna for $6.2 billion, which will help strengthen its local news offerings