Reuters is today reporting that Gray Television has withdrawn it’s $8.5 billion offer for Tegna.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.
We are sorry that this post was not useful for you!
Let us improve this post!
Tell us how we can improve this post?