Gray Television withdraws Tegna offer

0
(0)

Reuters is today reporting that Gray Television has withdrawn it’s $8.5 billion offer for Tegna.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.

Did YOU enjoy this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

Mike Cherry

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

Leave a Reply

Your email address will not be published. Required fields are marked *