×

Subscribe Today

Get our free articles delivered directly to your email!

Continue reading

TEGNA Riding the Election Wave – C-Suite Transitions

  • July 18, 2024

Market Cap: $2.72B

Enterprise Value: $5.49B

Key Insights

  • TEGNA is a media company that owns 64 television stations and reached 39% of U.S. television households.
  • The company benefits from increased spending during election years and especially during the presidential election cycle.
  • TEGNA has been a hot target, with multiple bidders vying for the company. Media mogul Byron Allen, private equity firm Apollo Global Management, and a strategic acquirer like Gray Television showed interest with undisclosed bids. The winner was Standard General with a $24 per share all-cash offer, valuing TEGNA at $5.4 billion.

Please subscribe for free or login to your InsideArbitrage account to access this article.