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Gray Bidding on TEGNA - $8.5 BILLION (UPDATE: They're out)


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Keep speculation in the speculation board. Do not post speculation here.

 

No foaming.

 

These threads have a history of getting out of hand WAY too fast. I will start handing out bans if people cannot control their emotions.

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Um

 

https://deadline.com/2020/03/gray-television-bid-to-acquire-tegna-report-1202875985/

 

Quote

Signaling ongoing consolidation of the broadcast business, Gray Television has made an $8.5 billion bid for larger rival Tegna, according to Reuters, sending Tegna stock up by more than 30% in premarket trading Friday in what looks set to be an otherwise down market.

Gray offered about $20 a share in cash and stock for Tegna, according to sources familiar with the situation, Reuters said.

 

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

You act like they currently don't have a choice, which they do. Every Tegna format that everyone on this site despises was developed at the local level, using other stations in the group as examples.

Unlikely to happen. Nobody is going to undo graphics hubbing when it's built out to the extent that Tegna has built theirs. I would expect Gray would sooner use the Tegna look on their current station

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1 minute ago, mightynine said:

In New Orleans, there's WVUE and WWL/WUPL - whoo boy, this could be a rollercoaster if it happened. How the heck do you do spinoffs?

WTOL/WTVG in Toledo and WZDX/WAFF in Huntsville also come to mind.

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Bangor: WLBZ and WABI. This would be a huge headache given how WLBZ is tied into WCSH and WAGM in Presque Isle is tied into WABI.

 

Memphis: WATN/WLMT and WMC. Another mess given how it's WLMT and not WATN in the Top 4.

 

Charlotte: WCNC and WBTV. I smell Charlotte getting it's second chance with an O&O...

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5 minutes ago, CubsFan79 said:

The GRAY/TEGNA TV merger would have to get DOJ/FCC approval. It gets quite messy in TV markets  with Tegna and Gray.

@jero23 maybe Charlotte can be an O&O market again...since you want that so badly 😝...WCNC would have to be divested...maybe NBC can buy them...but seriously would be a good idea

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Well this came out of left field. 

39 minutes ago, TheRolyPoly said:

WOW. 😮

 

First conflict I see is Cleveland (WKYC and WOIO/WUAB). There's probably another but I'm forgetting.

I think WKYC would get sold off should this happen. Don't know who would buy them. Nexstar and Scripps are automatically out.

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30 minutes ago, tjt24 said:

Well this came out of left field. 

I think WKYC would get sold off should this happen. Don't know who would buy them. Nexstar and Scripps are automatically out.

 

I could see them going to Meredith.

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