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Tegna raises $550M in debt financing
Tysons-based broadcast and digital media company Tegna Inc. announced Thursday it has raised $550 million in debt financing, which will go to pay outstanding debt. “With this successful offering, Tegna has reduced our overall average borrowing costs and locked in a lower fixed interest rate as we did earlier this year, further strengthening our balance […]
Tegna names its first chief diversity officer
Tysons-based broadcast and digital media company Tegna Inc. announced Thursday it has promoted Grady Tripp to become the company’s first chief diversity officer. Tripp has been with the company since 2017 on the talent acquisition team. In his new role, he will report directly to Tegna President and CEO Dave Lougee and partner with other […]
MicroStrategy converts $250M cash holdings to bitcoin
Tysons-based business software company MicroStrategy Inc. announced Tuesday it has converted $250 million from its cash holdings into more than 21,000 bitcoins. The company will keep its bitcoin holdings on its corporate treasury reserve — which MicroStrategy CEO Michael J. Saylor said in a statement will be the the principal holding in its treasury reserve […]
DXC Technology sells health care software business for $525M
Tysons-based Fortune 500 company DXC Technology announced Tuesday it would sell its health care software provider business to privately held Italian company Dedalus Group for $525 million in cash. The DXC software is used for hospital information systems, primary and social care, integrated care and diagnostics. “The sale of our health care provider software business […]
LMI names president, CEO
Tysons-based government and defense consultancy LMI announced Monday that Doug Wagoner has joined the company as its president and CEO, effective Aug. 3. Wagoner was most recently the sector president at Reston-based Fortune 500 company Science Applications International Corp. (SAIC). He oversaw SAIC’s operations and its 15,000 consultants and engineers. He has also previously worked [&hel[...]
Freddie Mac names VP multifamily investments, portfolio management
Tysons-based Freddie Mac announced Monday that Ling Xu has been promoted as the Fortune 500 company’s vice president of multifamily investments and portfolio management. In her new role, she will oversee market risk and capital strategy, as well as manage multifamily portfolio strategy, hedging and balance sheet management. She is also responsible for expanding the […]
Global law firm opens Tysons office
Atlanta-based global law firm King & Spalding LLP will open its 22nd office in Tysons, the Fairfax County Economic Development Authority (FCEDA) announced Tuesday. Founded more than 130 years ago, King & Spalding employs more than 1,100 lawyers across 22 offices in the United States, Europe, the Middle East and Asia. The Tysons office will […]
Hilton lays off 2.1K employees, extends furloughs
As hotels continue to struggle during the COVID-19 pandemic, McLean-based Hilton Worldwide Holdings Inc. announced Tuesday it is laying off 2,100 corporate employees — more than 20% of its corporate workforce. The company is also extending furloughs, reduced hours and corporate pay reductions, which were first announced in March, for up to an extra 90 […]
Booz Allen wins $800M AI defense contract
Tysons-based federal contractor Booz Allen Hamilton announced Tuesday it has won an $800 million, five-year contract from the U.S. General Services Administration to create artificial intelligence products for warfighting operations supporting the Department of Defense’s Joint Warfighter National Mission Initiative. Booz Allen will embed AI decision-making and analysis at all tiers of DoD op[...]
Alarm.com subsidiary acquires apartment intercom company
A subsidiary of Tysons-based security company Alarm.com announced Monday it has acquired apartment intercom system company Doorport Inc. Financial terms of the transaction were not disclosed. Through the acquisition, PointCentral Smart Property Management, which focuses on rental properties, will now be able to offer building security and access as well as property management through a […[...]
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 […]
Tegna receives new acquisition offer
Now the subject of a bidding war, Tysons-based broadcast and digital media company Tegna Inc. has received a new acquisition offer from investment firm The Najafi Cos. and religious broadcaster Trinity Broadcasting Network (TBN) that values the company at $20 per share cash, the companies announced Thursday. Tegna was once part of McLean-based mass media […]
