Standard General to Buy Broadcaster Tegna for $5.4 Billion

75
9
Favorite

Standard General to Buy Broadcaster Tegna for $5.4 Billion

Bloomberg2022-02-22

Standard General agreed to acquire Tegna Inc. for $5.4 billion, consummating a yearslong takeover saga for the television broadcaster.The investment firm agreed to pay $24 a share in cash, 39% above ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（9）

EHG
·2022-02-23
Like
Reply
1
Report
ASMH
·2022-02-23
Like
Reply
1
Report
Gackky
·2022-02-23
do such rumors come out before they announce? where do find insider news?[Glance]
Reply
1
Report
SaraG
·2022-02-23
Ok
Reply
1
Report
Epicccc
·2022-02-23
like
Reply
2
Report
Robinshk
·2022-02-22
Like pls
Reply
Like
Report
V K
·2022-02-22
Pls like tyvm[Happy]
Reply
3
Report
benjaminlsk
·2022-02-22
Hi
Reply
2
Report
K3nia
·2022-02-22
Hello
Reply
2
Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/2213958877?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2022-02-22 22:53","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2213958877","market":"us","top_or_hot":-1,"title":"Standard General to Buy Broadcaster Tegna for $5.4 Billion","media":"Bloomberg","content":"<div>\n<p>Standard General agreed to acquire Tegna Inc. for $5.4 billion, consummating a yearslong takeover saga for the television broadcaster.The investment firm agreed to pay $24 a share in cash, 39% above ...</p>\n\n<a href=\"https://finance.yahoo.com/news/standard-general-buy-broadcaster-tegna-125259474.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Standard General to Buy Broadcaster Tegna for $5.4 Billion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStandard General to Buy Broadcaster Tegna for $5.4 Billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-22 22:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/standard-general-buy-broadcaster-tegna-125259474.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Standard General agreed to acquire Tegna Inc. for $5.4 billion, consummating a yearslong takeover saga for the television broadcaster.The investment firm agreed to pay $24 a share in cash, 39% above ...</p>\n\n<a href=\"https://finance.yahoo.com/news/standard-general-buy-broadcaster-tegna-125259474.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SMP","symbol_name":"Standard Motor Products Inc","start_time":0,"source_url":"https://finance.yahoo.com/news/standard-general-buy-broadcaster-tegna-125259474.html","article_id":"2213958877","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2213958877","pubTimestamp":1645541584,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Standard General agreed to acquire Tegna Inc. for $5.4 billion, consummating a yearslong takeover sa","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SMP":"Standard Motor Products Inc","BGC":"BGC GROUP","BK4125":"广播","TGNA":"Tegna Inc","BK4124":"机动车零配件与设备","APO":"阿波罗全球管理"},"translate_title":"标准通用将以54亿美元收购Tegna广播公司","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BGC":1,"SMP":1,"TGNA":1,"APO":0.9},"content_text":"Standard General agreed to acquire Tegna Inc. for $5.4 billion, consummating a yearslong takeover saga for the television broadcaster.The investment firm agreed to pay $24 a share in cash, 39% above Tegna’s Sept. 14 closing price, before media accounts about a possible sale. The deal is expected to close in the second half, according to a statement Tuesday that confirmed a Bloomberg News report. The companies valued the deal at about $8.6 billion, including the assumption of debt.In a nod to potential antitrust scrutiny of the purchase, the buyers agreed to pay more if the closing takes longer than expected. The price increases incrementally from 5 cents a share per month after the first nine months, to 12.5 cents in the 14th and 15th months.Apollo Global Management Inc. will receive shares in Tegna and won’t have voting rights. After the close, Tegna stations in Austin, Dallas and Houston, Texas, will be acquired by Cox Media Group.Tegna jumped 8.1% to $22.65 at 7:51 a.m. before regular trading Tuesday in New York.Standard General and Apollo had previously offered about $22 a share for Tegna, Bloomberg News reported in September. That bid was later bumped to $22.65 and then to $24, people familiar with the matter said. Their rivals included media mogul Byron Allen, who had teamed up with Ares Management Corp. last year to offer $23 a share.Takeover SagaThe agreement follows years of pursuit of Tegna, which owns 64 news stations throughout the U.S. as well as media properties such as the True Crime Network, according to its website. Apollo had been in talks to acquire the company two years ago, but ended discussions as the early days of the Covid-19 pandemic upended markets.Negotiations were rebooted last year, and the parties have been haggling over issues including Tegna’s concerns that regulators would nix any sale given Apollo’s ownership stake in competitor Cox Media Group, Bloomberg News has reported.New York-based Standard General, which was founded in 2007 by Soo Kim, primarily manages event-driven funds but it has made acquisitions. In 2015, it bought more than 1,740 Radio Shack stores through General Wireless Inc., as well the Radio Shack brand in auction related to its bankruptcy.Standard General has run two unsuccessful boardroom battles at Tegna in recent years, arguing in both cases that the company was underperforming and in need of a shake-up.After the close of the Tegna transaction, Kim will serve as chairman and Deb McDermott, who runs Standard Media, will become chief executive officer.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9097726092,"gmtCreate":1645571914659,"gmtModify":1676534039765,"author":{"id":"3586941861951066","authorId":"3586941861951066","name":"EHG","avatar":"https://static.tigerbbs.com/28e4734e50f795c3218330cbb6c3e9a0","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3586941861951066","authorIdStr":"3586941861951066"},"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097726092","repostId":2213958877,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9097767189,"gmtCreate":1645571174235,"gmtModify":1676534039635,"author":{"id":"3586939439858903","authorId":"3586939439858903","name":"ASMH","avatar":"https://static.tigerbbs.com/c8c22c3127769d9bb7b4e8d291d98433","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3586939439858903","authorIdStr":"3586939439858903"},"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097767189","repostId":2213958877,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9097784402,"gmtCreate":1645569712434,"gmtModify":1676534039370,"author":{"id":"3574326723774097","authorId":"3574326723774097","name":"Gackky","avatar":"https://static.tigerbbs.com/5898b44bf5a31bf2b9d4e37227ed8177","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3574326723774097","authorIdStr":"3574326723774097"},"htmlText":"do such rumors&nbsp;come out before they announce? where do find insider news?[Glance]&nbsp;","listText":"do such rumors&nbsp;come out before they announce? where do find insider news?[Glance]&nbsp;","text":"do such rumors come out before they announce? where do find insider news?[Glance]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097784402","repostId":2213958877,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9097739320,"gmtCreate":1645556266738,"gmtModify":1676534038657,"author":{"id":"3555145433625260","authorId":"3555145433625260","name":"SaraG","avatar":"https://static.tigerbbs.com/d2f8419f97c9d4f75f0bb7c62bcc31f4","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3555145433625260","authorIdStr":"3555145433625260"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097739320","repostId":2213958877,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9097730740,"gmtCreate":1645555801248,"gmtModify":1676534038650,"author":{"id":"4093650286933840","authorId":"4093650286933840","name":"Epicccc","avatar":"https://static.tigerbbs.com/ac3045291fc19fe3a33b73fa2377980c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4093650286933840","authorIdStr":"4093650286933840"},"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097730740","repostId":2213958877,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9097473034,"gmtCreate":1645542836796,"gmtModify":1676534037841,"author":{"id":"3583719339427406","authorId":"3583719339427406","name":"Robinshk","avatar":"https://static.tigerbbs.com/c1089a1858cf641f8680d8015659c00d","vip":1,"hat":"https://static.tigerbbs.com/a3dee1aa3a3a3c1814833a4d3f8a5669","crmLevel":2,"crmLevelSwitch":0,"idStr":"3583719339427406","authorIdStr":"3583719339427406"},"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097473034","repostId":2213958877,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9097442621,"gmtCreate":1645542134946,"gmtModify":1676534037689,"author":{"id":"3577323914202336","authorId":"3577323914202336","name":"V K","avatar":"https://static.tigerbbs.com/536d624e5750dcffec704eeed9bc003b","vip":1,"hat":"https://static.tigerbbs.com/ae1f49570794979e009a5efdeb6f4789","crmLevel":8,"crmLevelSwitch":1,"idStr":"3577323914202336","authorIdStr":"3577323914202336"},"htmlText":"Pls like tyvm[Happy]&nbsp;","listText":"Pls like tyvm[Happy]&nbsp;","text":"Pls like tyvm[Happy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097442621","repostId":2213958877,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9097442136,"gmtCreate":1645542105533,"gmtModify":1676534037688,"author":{"id":"3571707309049146","authorId":"3571707309049146","name":"benjaminlsk","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/ae1f49570794979e009a5efdeb6f4789","crmLevel":1,"crmLevelSwitch":0,"idStr":"3571707309049146","authorIdStr":"3571707309049146"},"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097442136","repostId":2213958877,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9097441492,"gmtCreate":1645541642563,"gmtModify":1676534037626,"author":{"id":"3586502447028517","authorId":"3586502447028517","name":"K3nia","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3586502447028517","authorIdStr":"3586502447028517"},"htmlText":"Hello","listText":"Hello","text":"Hello","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097441492","repostId":2213958877,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":75,"commentSize":9,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}