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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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whitebalance
Posts: 227
Joined: Sun Jan 02, 2005 9:46 pm

Re: Gray wants to buy Tegna (WZZM parent)

Unread post by whitebalance »

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
Posts: 684
Joined: Wed Oct 31, 2018 8:54 am

Re: Gray wants to buy Tegna (WZZM parent)

Unread post by innate-in-you »

If that goes through, Gray would own three of Toledo's network affiliates (11, 13 and 36).
JackAttack FM
Posts: 295
Joined: Thu Jan 05, 2012 5:50 pm

Re: Gray wants to buy Tegna (WZZM parent)

Unread post by JackAttack FM »

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
Posts: 227
Joined: Sun Jan 02, 2005 9:46 pm

Re: Gray wants to buy Tegna (WZZM parent)

Unread post by whitebalance »

We all know how well private equity works. Just ask Art Van.
MasterB
Posts: 1572
Joined: Sun Apr 23, 2006 2:59 pm
Location: Kalamazoo

Re: Gray wants to buy Tegna (WZZM parent)

Unread post by MasterB »

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.
Go Pistons, Let's Go Redwings.
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rugratsonline
Posts: 496
Joined: Sat Dec 04, 2004 1:20 pm

Re: Gray wants to buy Tegna (WZZM parent)

Unread post by rugratsonline »

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
Posts: 1572
Joined: Sun Apr 23, 2006 2:59 pm
Location: Kalamazoo

Re: Gray wants to buy Tegna (WZZM parent)

Unread post by MasterB »

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.
thatonedude
Posts: 427
Joined: Wed Aug 07, 2019 4:39 am

Re: Gray wants to buy Tegna (WZZM parent)

Unread post by thatonedude »

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
Posts: 160
Joined: Sat Dec 04, 2004 3:25 pm

Re: Gray wants to buy Tegna (WZZM parent)

Unread post by tvbobn »

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.

Sent from my Pixel 3a XL using Tapatalk
I agree 100%!
Frontier Airlines SUCKS! They're a bunch of thieves. Don't fly with them!
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