The late stage of an inspiraling neutron-star binary gives rise to strong gravitational wave emission due to its highly dynamic, strong gravity. Moreover, interactions between the stellar magnetospheres can produce considerable electromagnetic radiation. We study this scenario using fully general relativistic, resistive magnetohydrodynamic simulations. We show that these interactions extract kinetic energy from the system, dissipate heat, and power radiative Poynting flux, as well as develop current sheets. Our results indicate that this power can (i) outshine pulsars in binaries, (ii) display a distinctive angular- and time-dependent pattern, and (iii) radiate within large opening angles. These properties suggest that some binary neutron-star mergers are ideal candidates for multimessenger astronomy.