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Gray wants to buy Tegna (WZZM parent)

Discussion pertaining to Grand Rapids, Kalamazoo, Muskegon, Battle Creek, Big Rapids, and Michiana
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MWmetalhead
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Gray wants to buy Tegna (WZZM parent)

Post by MWmetalhead » Fri Mar 06, 2020 4:31 pm

Tegna shares closed higher 26.49 percent on the news.

This would give Gray an impressive footprint in Michigan.

More to come...



whitebalance
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Re: Gray wants to buy Tegna (WZZM parent)

Post by whitebalance » Fri Mar 06, 2020 7:48 pm

Gray owns ABC12 in Flint. No change here. 13 will still look like cheap public access channel. That is what 12 has become.



innate-in-you
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Re: Gray wants to buy Tegna (WZZM parent)

Post by innate-in-you » Fri Mar 06, 2020 7:55 pm

If that goes through, Gray would own three of Toledo's network affiliates (11, 13 and 36).



JackAttack FM
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Re: Gray wants to buy Tegna (WZZM parent)

Post by JackAttack FM » Fri Mar 06, 2020 8:33 pm

MWmetalhead wrote:
Fri Mar 06, 2020 4:31 pm
Tegna shares closed higher 26.49 percent on the news.

This would give Gray an impressive footprint in Michigan.

More to come...
And private equity Apollo Global jumped in today with an all cash $20 a share bid.
Apollo recently acquired Cox Media.
innate-in-you wrote:
Fri Mar 06, 2020 7:55 pm
If that goes through, Gray would own three of Toledo's network affiliates (11, 13 and 36).
If either Apollo or Gray get ahold of Tegna there would have to be divetitures.



whitebalance
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Re: Gray wants to buy Tegna (WZZM parent)

Post by whitebalance » Fri Mar 06, 2020 8:56 pm

We all know how well private equity works. Just ask Art Van.



MasterB
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Re: Gray wants to buy Tegna (WZZM parent)

Post by MasterB » Sat Mar 07, 2020 10:50 pm

I know Apollo did make a couple of offers to buy TEGNA last year which TEGNA would rather be bought than be taken over by Soo Kim and Standard Media. Neither Apollo or Gray would have to sell as neither owns any TV stations in this market but yeah they will have to sell TV stations where both own a TV station in the same market I know Cleveland is one if it's Gray that merges with TEGNA as Gray owns WOIO & TEGNA owns WKYC I know Apollo owns a TV station in ATL along with TEGNA as well.


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rugratsonline
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Re: Gray wants to buy Tegna (WZZM parent)

Post by rugratsonline » Sun Mar 08, 2020 12:15 am

innate-in-you wrote:
Fri Mar 06, 2020 7:55 pm
If that goes through, Gray would own three of Toledo's network affiliates (11, 13 and 36).
...and would be forced to sell one or two of them to meet ownership limits.



MasterB
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Re: Gray wants to buy Tegna (WZZM parent)

Post by MasterB » Fri Mar 13, 2020 12:23 am

Byron Allen is also interested in buying TEGNA which would be Byron Allen shows if he buys WZZM and the other TEGNA TV stations I'm not all that crazy about his shows.


Go Pistons, Let's Go Redwings.

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MWmetalhead
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Re: Gray wants to buy Tegna (WZZM parent)

Post by MWmetalhead » Fri Mar 13, 2020 7:27 am

He's done a miserable job with the Weather Channel.



thatonedude
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Re: Gray wants to buy Tegna (WZZM parent)

Post by thatonedude » Fri Mar 13, 2020 12:13 pm

MWmetalhead wrote:He's done a miserable job with the Weather Channel.
Miserable is an understatement. He's managed to completely fuck it up more than NBC and the private equity firms did.

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take this job and shove it

tvbobn
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Re: Gray wants to buy Tegna (WZZM parent)

Post by tvbobn » Fri Mar 13, 2020 12:59 pm

thatonedude wrote:
Fri Mar 13, 2020 12:13 pm
MWmetalhead wrote:He's done a miserable job with the Weather Channel.
Miserable is an understatement. He's managed to completely fuck it up more than NBC and the private equity firms did.

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I agree 100%!


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