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.

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