Standard General has announced a complex deal on Tuesday with Apollo Global Management to acquire TV station owner Tegna for $24 a share, or roughly $8.6 billion.
Tegna — spun off from newspaper giant Gannett in 2015 as a separate, publicly traded company — operates 64 TV (including KING 5 & KONG 16 Seattle) and 2 radio stations across 54 US markets.
Following the close of the transaction, Cox will acquire Tegna stations in Austin (KVUE), Dallas (WFAA and KMPX) and Houston (KHOU and KTBU) from Standard General. Tegna owns 64 stations in 51 markets, including top-4 network affiliates in the top 25 markets. It owns multicast networks True Crime, Twist and Quest.
Following the close of the transaction, Standard Media CEO Deb McDermott will take over as CEO of Tegna and Soo Kim, founding partner of Standard General, will take over as chairman for the company. Current CEO Dave Lougee will depart the company.
Private equity giant Apollo Global Management, a longtime investor in local TV, would provide financial backing in exchange for preferred shares, according to the report in Bloomberg. (Deadline)
I'm guessing this was the "son of" or someone related to Corn Pop. Joe Biden…
On the issue of ransom notes, Tucson television station KOLD reported on Feb. 3 that…
In this Cut for Time sketch, a scientist (Colin Jost) joins a news broadcast to…
Our Blue state of Washington legislators, (not because of blue skies, but Blue for Democrat…
In late 2025, Warner Bros. Discovery (WBD)—formed from the 2022 merger of WarnerMedia and Discovery—shifted…
Nancy Guthrie, the 84-year-old mother of NBC's Today show co-anchor Savannah Guthrie, was last seen…