Reuters is today reporting that Gray Television has withdrawn it’s $8.5 billion offer for Tegna. The company cites the effects of the coronavirus on American TV station operators & it’s own bottom line during this downturn in media viability. Private equity firm Apollo Management & TV & entertainment mogul Byron Allen are both contenders for Tegna & ongoing negotiations with both parties continues. According to sources, there is no assurance there will be a deal for Tegna, given the uncertainty of the coronavirus crisis.
Gray Television withdraws Tegna offer
Author: Mike Cherry Published Date: March 18, 2020 1:56 pm Comments: 1 Comment on Gray Television withdraws Tegna offer 0 650
Author: Mike Cherry
retired broadcaster: on-air, MD, PD, asst PD, Prod Mgr, IT, station technician/engineer, pioneer Internet webcaster, station installation/maintenance; 12 years in commercial radio, 17 years volunteer in campus/community radio in B.C., Alberta & Wash. Amateur radio operator & "DXer" specializing in AM night-time DX, short-wave DX/listening & remote SDR DXing/listening