I'm not clamoring for a sale. I just worry about what it would mean for the likes of KUSA if TEGNA ended up being sold to private equity and, likely, sold for parts. I am worried about TEGNA's direction as a whole, given that they seem to have no broader strategy than "not being bought out." I don't like standardization either, and I love Troika but find their TEGNA look to be a little bland and inflexible. But I have no idea who might do a better job running the group than the current TEGNA management. Sure as hell not private equity firms or hedge fund guys.

They are independent, people just pretend MNTV is a network.

Given how uninspired and/or dire a lot of local TV logos have been the last 20 years or so, I'll take it.

Actually, didn't Univision buy WKFT (now WUVC) from Bahakel by itself? It wasn't one of the USA stations.

I don't know how NBC News's bureaus work, but they have two O&Os between the coasts - WMAQ and KXAS. I wonder how well-equipped they are to handle something like this...

Meanwhile, here I am noticing the fact that CBS used to own the Yankees...a family reunion of sorts!

What if TEGNA simply refuses to sell?

Banks, most likely.

There’s that war chest at work... And something more than just crumbs!

I think one of them is that they only have one class of stock, unlike Gray or Scripps, and their stock price is far lower than Nexstar's, thus they're an easy target.

There is no deal to acquire TEGNA yet. Not by Gray, or Apollo, or anybody.

Sinclair is massively in debt. Something like $14 billion? Their financial statements are a bit opaque and confusing. Evidently they don't know how to do a leveraged buyout properly, since they didn't seem to put any of that debt onto Diamond. Not sure that would have been responsible per se, but it would have sheltered Sinclair proper from a lot of the seemingly-inevitable fallout.

Sinclair just doesn't have the leverage with MVPDs that Fox did. They don't have a Fox News or even an FX to use as a cudgel. WUCW is not KMSP-WFTC, for instance, and I don't know what kind of cachet the Tennis Channel has.

Or a banner, or a pennant...

They dropped the full name after Chris-Craft bailed, so "UPN" didn't stand for anything.