Nexstar Media Group Inc. agreed to buy TV station operator Tegna Inc. for $3.5 billion in a deal that stands to dramatically expand Nexstar’s reach and test the Trump administration’s appetite for regulatory reform.

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

In a deal to combine two major players in the local TV station biz, Nexstar Media Group said it reached an agreement to buy Tegna in a transaction valued at $6.2 billion. The purchase price is inclusive of Tegna’s net debt and estimated transaction fees and expenses.