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Tegna announces new president and CEO
Michael Steib will succeed Tegna President and CEO David Lougee, who is retiring Aug. 12, Tysons-based broadcasting giant Tegna announced Monday. The 48-year-old Steib will also succeed Lougee as a member of the company’s board of directors. Lougee, age 65, will become a senior adviser. Lougee has been president and CEO and a director of […]
Tegna expands contract with Comscore
Tysons-based Tegna, the nation’s largest owner of NBC-affiliate TV stations, has reached a multiyear deal with Reston-based Comscore, which will continue providing media metrics and audience measurement services across the broadcaster’s local TV, major affiliate and digital businesses, the companies announced Friday. Financial terms of the agreement were not disclosed. With this expans[...]
Media 2023: DAVE LOUGEE
Lougee is no stranger to the world of mergers and acquisitions that have become part of the media business. In May, Tegna terminated its merger agreement with New York hedge fund Standard General when the financial agreements needed to fund the deal expired. In 2015, Gannett Co. spun off its broadcasting and digital business to […]
$5.4B Tegna sale is terminated
The deadline has expired on hedge fund Standard General LP’s $5.4 billion bid to acquire Tysons-based publicly traded broadcasting giant Tegna Inc. The largest owner of NBC affiliates, Tegna has 64 television stations in 51 U.S. markets and reaches 39% of all television households nationwide. The stalled agreement was terminated after the acquisition‘s deadline expired […]
Tegna shareholders approve $5.4B sale to hedge fund
Tysons-based broadcast and digital media giant Tegna Inc.’s shareholders approved an agreement at a special meeting Tuesday for the sale of the company to an affiliate of New York hedge fund Standard General. On Feb. 22, Tegna announced it would be acquired in a $5.4 billion cash deal by an affiliate of Standard General LP. […]
Tegna to sell for $5.4B to hedge fund
Tysons-based broadcast and digital media giant Tegna Inc. will be acquired in a $5.4 billion cash deal by an affiliate of Standard General, the company announced Tuesday morning. New York hedge fund Standard General, one of Tegna’s largest shareholders, and New York-based private equity firm Apollo Global Management will buy Tegna for $24 per share […]
Tegna confirms acquisition offers
Tysons-based broadcast and digital media corporation Tegna Inc. has received acquisition bids of more than $8 billion from Apollo Global Management Inc. and media mogul Byron Allen, according to media reports. The news comes more than a year after previous purchase proposals fell through in March 2020 amid the dawning of the coronavirus pandemic. Bloomberg […]
Tegna acquires podcast company
Tysons-based broadcast and digital media company Tegna Inc. announced Thursday it has acquired Locked On Podcast Network, which covers local sports and the four major professional sports leagues. Financial terms of the transaction were not disclosed, but the acquisition will expand Tegna’s podcast market presence. Locked On produces daily shows for the NBA, NFL, MLB […]
Tegna acquisition talks fall through
As the financial fallout from the COVID-19 pandemic escalates, Tysons-based Tegna announced that two offers to acquire the Gannett spinoff company have fallen through. “TEGNA and its advisors engaged substantially with two of these parties and provided them extensive non-public due diligence information,” the company wrote in a statement over the weekend. “These two parties […]
