Local TV Giant Tegna to Be Sold to Private Equity Firm in $5.4 Billion Deal
Local TV station giant Tegna is being acquired by a Standard General L.P. affiliate for $24 per share in cash. The deal has an equity value of approximately $5.4 billion and an enterprise value of about $8.6 billion when including the assumption of debt.
The transaction represents a premium of roughly 39% to Tegna’s unaffected closing share price on Sept. 14, 2021, which was the last full trading day prior to media speculation about a potential sale. It represents a premium of approximately 11% to Tegna’s all-time high closing price since separating from the Gannett publishing business in 2015.
The transaction was unanimously approved by the Tegna Board. It is now subject to approval by Tegna shareholders, regulatory approvals, and other customary closing conditions, and is expected to close in the second half of 2022.
Following the close of the transaction, Tegna stations in Austin (Kvue), Dallas (Wfaa and Kmpx) and Houston (Khou and Ktbu), are...
The transaction represents a premium of roughly 39% to Tegna’s unaffected closing share price on Sept. 14, 2021, which was the last full trading day prior to media speculation about a potential sale. It represents a premium of approximately 11% to Tegna’s all-time high closing price since separating from the Gannett publishing business in 2015.
The transaction was unanimously approved by the Tegna Board. It is now subject to approval by Tegna shareholders, regulatory approvals, and other customary closing conditions, and is expected to close in the second half of 2022.
Following the close of the transaction, Tegna stations in Austin (Kvue), Dallas (Wfaa and Kmpx) and Houston (Khou and Ktbu), are...
- 2/22/2022
- by Tony Maglio
- The Wrap
Similar News
The 7 Best New Movies Streaming on Netflix Right Now
- 4/25/2025
- by Alex Welch
- The Wrap
‘On Swift Horses’ Review: Daisy Edgar-Jones and Jacob Elordi Are Sexy, Queer Gamblers in Gentle 1950s Drama
- 4/25/2025
- by William Bibbiani
- The Wrap
Where to Watch ‘The Shrouds:’ Is the David Cronenberg Movie Streaming?
- 4/25/2025
- by Drew Taylor
- The Wrap
Tegna extends partnership with Cleveland Guardians
- 4/7/2025
- by Matthew Keys
- The Desk
WGA Ratifies New 3-Year Contract With CBS News, Securing Key AI Protections
- 4/4/2025
- by Katie Campione
- Deadline Film + TV
Nab renews call for FCC to eliminate broadcast ownership cap
- 4/3/2025
- by Matthew Keys
- The Desk
Can you remove a title from Continue Watching on Tubi?
- 4/24/2025
- by David Satin
- The Streamable
Rincon Broadcasting buys 7 television stations from Imagicomm
- 4/4/2025
- by The Desk
- The Desk
What customization options does Tubi's channel guide offer?
- 4/2/2025
- by David Satin
- The Streamable
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.