Standard General to acquire Tegna for $8.6 Billion

[ABC 7 Denver 1320]

1 hour ago, Kenneth Kissel said:

I forgot about that. I fixed it with Nexstar. 

I had ONE misstep and you want to jump down my throat on it. 

 

Hearst's graphics hub can be moved to another station if needed. I'm sure WBAL-TV would want it. 

 

Nexstar can't take it either. They hit their cap. Orlando is too big. Either TEGNA or Scripps.

 

Also, no. It's not leaving Florida.

[Kenneth Kissel 252]

15 minutes ago, ABC 7 Denver said:

 

Nexstar can't take it either. They hit their cap. Orlando is too big. Either TEGNA or Scripps.

 

Also, no. It's not leaving Florida.

Nexstar could buy them as Mission Broadcasting stations. Scripps is also against the cap.  My point was that if TEGNA became Standard, Cox merged with Standard, and then Hearst merged with Cox. Orlando (and many other places) will have new owners with an O&O or someone like Allen or someone else expanding their reach to fill in the gaps. 

[newsteam13 248]

What's gonna happen in Denver with KUSA NBC9 and KTVD MyDenver20?

[ABC 7 Denver 1320]

On 7/19/2022 at 12:05 AM, newsteam13 said:

What's gonna happen in Denver with KUSA NBC9 and KTVD MyDenver20?

 

1. We don't call it NBC9 or MyDenver20... We call it 9News and Channel 20. Also, who cares? All speculation at this point and you nor I have any control over these assets.

Edited July 21 by ABC 7 Denver

[GoldenShine9 1271]

Staying out of the speculation in this thread.

[tyrannical bastard 2696]

The simple solution is that Imagicomm (INSP) takes on any more Cox stations in markets where Tegna already has a presence.  Although there would be places like Atlanta and Charlotte where the Tegna station(s) would be more likely to be cut loose....

Edited July 19 by tyrannical bastard
Typo

[GoldenShine9 1271]

Reading some of the petitions to deny and other details, it appears the deal may be illegal on foreign ownership rules, as the hedge funds are largely based in the Cayman Islands, Bermuda and the British Virgin Islands.

[TexasTVNews 1217]

1 hour ago, GoldenShine9 said:

Reading some of the petitions to deny and other details, it appears the deal may be illegal on foreign ownership rules, as the hedge funds are largely based in the Cayman Islands, Bermuda and the British Virgin Islands.

I just hope the FCC gives the big fat "NO!" to Tegna on the deal.

[dman748 1226]

3 hours ago, GoldenShine9 said:

Reading some of the petitions to deny and other details, it appears the deal may be illegal on foreign ownership rules, as the hedge funds are largely based in the Cayman Islands, Bermuda and the British Virgin Islands.

Which means that there is a distinct possibility that both Standard General and Apollo gets nailed by the FCC for lack of candor. I know for certain looking at previous documents both with this deal and when Apollo acquired Cox a few years back there was no mention of them doing business in the Cayman Islands, British Virgin Islands or Bermuda.

[Yankees4life 439]

On 8/5/2022 at 11:18 PM, dman748 said:

Which means that there is a distinct possibility that both Standard General and Apollo gets nailed by the FCC for lack of candor. I know for certain looking at previous documents both with this deal and when Apollo acquired Cox a few years back there was no mention of them doing business in the Cayman Islands, British Virgin Islands or Bermuda.

Big fine incoming (we hope)

 

COX and Tegna are in the deep.

[Sendir 188]

Hearst is almost debt free for not going on a huge M&A frenzy as the rest of the groups. This means free cash flow. While other groups are in debt in the BILLIONS, Hearst sits back with only MILLIONS in debt and are able to do so much more being a private company. 

[Kenneth Kissel 252]

43 minutes ago, Sendir said:

Hearst is almost debt free for not going on a huge M&A frenzy as the rest of the groups. This means free cash flow. While other groups are in debt in the BILLIONS, Hearst sits back with only MILLIONS in debt and are able to do so much more being a private company. 

This is why Hearst is my favorite owner of all the TV News Companies. I'm also glad to have a local Hearst station in my area as well (WTAE). 

[GoldenShine9 1271]

Here was the line, on page 22 of one of the responses to deny the deal:

 

As TNG-CWA has pointed out in letters to President Biden, involvement of large hedge funds headquartered in the Cayman Islands and the British Virgin Islands, thus necessitating a waiver of the Commission’s foreign ownership limits, are flashing red lights that cry out for further inquiry. Standard General and its financiers have failed to produce the documents detailing whose money they invest and whether they agreed to cut costs at the expense of hardworking Americans in order to pay the interest on.