Byron Allen, Apollo Global In New Round Of Bids For Broadcaster Tegna

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deadline.com

Broadcaster TEGNA confirmed Tuesday that it’s received what would be a new round of acquisition proposals. It didn’t say from whom but Byron Allen’s group is said to be bidding, along with Apollo Global Management and Standard General with an $8 billion offerTegna, which was spun off from newspaper giant Gannett in 2015, had a raft of offers last spring that it rebuffed.

This time around it is accepting bids for the company, which operates 64 television and two radio stations in 54 U.S. markets.Byron Allen, who has been snapping up broadcast stations and also went after Tegna previously, made the offer with alternative investment firm Ares Management.“Consistent with its fiduciary duty to TEGNA shareholders, the Board will carefully review

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