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TSSZNews

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

Weeters

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.

Message added by Weeters

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Posted (edited)

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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Just now, TheRolyPoly said:

WOW. 😮

 

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

Waco Texas would be another conflict due to KCEN and KWTX.

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Just now, ScottSchell said:

Waco Texas would be another conflict due to KCEN and KWTX.

Bryan too with KAGS and KBTX.

 

I dont think there's too many, IIRC.

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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?

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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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Posted (edited)

Gray obviously wants to get on Nexstar's level. The conflicts, however, would be very messy.

Edited by Georgie56
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The GRAY/TEGNA TV merger would have to get DOJ/FCC approval. It gets quite messy in TV markets  with Tegna and Gray.

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Posted (edited)
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

Edited by Nelson R.
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2 minutes ago, Nelson R. said:

@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 

It's not up to me, will see how it plays out with both parties.

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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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Posted (edited)

And I thought Sinclair's failed acquisition of Tribune was a mess. Gray taking over Tegna could reach it.

 

In either case, the industry eating continues.

unicron2.png

 

Edited by Action Newsroom
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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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Posted (edited)

Could Sinclair go after WKYC (or WOIO/WUAB)?

Edited by CLETVFan

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1 minute ago, CLETVFan said:

Could Sinclair go after WKYC?

HELL NO! They're still barred from buying (or even selling) stations; they only sold the non-license assets of KGBT.

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