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An affiliate of Standard General, Apollo Global . They closed up 7.4% to $21.34, giving Tegna a market value of $4.7 billion. Deb McDermott, who currently serves as CEO of Standard Media, a subsidiary of Standard General, will become CEO. The buyers seem open to raising their offer for the second time,. Headquartered in New York, NY, Standard General L.P. was founded in 2007 by Managing Partner and Chief Investment Officer Soohyung ("Soo") Kim with $100 million of seed capital from Reservoir Capital. Standard General owns about 4.8% of Tegna, making it the fourth-largest shareholder, according to Refinitiv data. An affiliate of Standard General will hold substantially all of the voting, common equity in the new entity that is acquiring TEGNA, with CMG and funds managed by affiliates of Apollo Global . An agreement could be announced as soon as Tuesday, the people said, asking not to be identified because the matter is private. Tegna — Spin off from newspaper giant Ganette In 2015, as an independent publicly traded company, it operates 64 television stations and 2 radio stations in 54 markets in … An offer of around $24 a share would be about a $2-per-share increase on Standard General and Apollo's previous bid for the company, which was reported by Bloomberg News in September. Tegna is being acquired by its largest active shareholder, Standard General, and a second private equity firm, Apollo Global Management, for an equity value of approximately $5.4 billion and an . Standard. The company […] Roughly eighteen months after COVID collapsed talks, the same dance partners are at it again, with Standard General and Apollo Global Management ( APO) teaming up to submit a bid and Byron Allen. LightRocket by way of Getty Images Representatives for Apollo, Standard General and Tegna declined to comment. Big publicly traded broadcaster Tegna, which has been in play for months, agreed to sell itself to Standard General and a group of funds including Apollo Global Management, the owner of Cox Media Group.. It's a a cash deal for $24 a share. Details: Standard General and Apollo are buying Tegna at $24 per share in cash. A major question is how regulators will view Apollo's and Cox Media's role in the deal. Standard General, which was founded by Soo Kim in 2007, had previously tried twice before to take over Tegna but failed. Buyers and Tegna have cleared what sources consider to be a major obstacle: the amount the Standard General-Apollo team has to pay if the transaction takes more than a year. This story, plus the Wall Street Journal tells staff it would not mandate an in-person return to the office, UK media regulator asked to review Russian news channel RT's license and more, all in today's media headlines. Apollo Global Management, which is financing Standard General's takeover of Tegna, itself was close to buying the broadcaster in early 2020 before the pandemic upended the market and its plans.. As a private company, Standard General might be better able to make the necessary changes in Tegna's business. Big publicly traded broadcaster Tegna, which has been in play for months, agreed to sell itself to Standard General and a group of funds including Apollo Global Management, the owner of Cox Media Group.. It's a a cash deal for $24 a share. That's $5.4 billion, or $8.6 billion including the assumption of debt. M. Apollo owns 33 TV stations in 20 markets through its portfolio company Cox Media Group, while Standard General owns four TV stations, according to their websites. Standard General and Apollo will pay $24 per share for the company, which owns 64 stations in 51 markets and will become the nation's "largest minority-owned, woman-led broadcast group." That comes to an equity value of $5.4 billion, or $8.6 billion including. The companies said the deal has an equity value of about $5.4 billion and an enterprise value of about $8.6 billion. Reactions: MikeD-C05, TheKrell and charlesrshell. Feb 22 (Reuters) - U.S. TV station operator Tegna Inc (TGNA.N) will be acquired by Standard General for $5.4 billion in an all-cash deal, ending a years-long battle by the shareholder. Apollo Global Management teamed with Standard General on Monday to make a binding bid that topped $8 billion for local TV station owner Tegna, sources close to the matter said. That bid was later bumped to $22.65 and then to $24, people familiar with the matter said. Such a takeover could join the stations Apollo acquired when it bought a majority stake in Cox Media Group in 2019. Sounds like as long as WSB identifies itself as a Cox station as opposed to being a component of Apollo and WXIA/WATL identifies as Standard General without naming Apollo as such, there will be no triopoly issues. An affiliate of Standard General will hold substantially all of the voting power in the acquired Tegna, with Apollo Global Management — which was previously in talks to acquire Tegna before the . The probability of Cox Media Group parent company Apollo Global Management and Standard General acquiring Tegna is at "50 to 75 percent," according to a source quoted by the New York Post, as Tegna inquires with its potential suitors about antitrust concerns that may place a hurdle in the process.. Big publicly-traded broadcaster Tegna, which has been in play for months, agreed to sell itself to Standard General and investors led by Apollo Global Management and its Cox Media Group. Apollo Standard is a range of black round tubes used in plumbing systems of buildings to carry water/steam through the HVAC, fire-fighters and structural steel construction material. Standard General, meanwhile, has owned a small group of TV stations in the past, most of which are now owned by . Tegna has been sold to investment hedge-fund firm Standard General and investors led by Apollo Global Management and its Cox Media Group for $5.4 billion in cash. Tegna — spun off from. Tegna shares closed at $19.52 on Monday. The consumers appear open to elevating their provide for the second time, sources stated. Standard General and Apollo Global Management Inc. are nearing a deal to acquire television broadcaster Tegna Inc. in a transaction valued at $24 a share, according to people familiar with the. Changes are Coming. An offer of around $24 a share would be about a $2-per-share increase on Standard General and Apollo . Standard General and Apollo had previously offered about $22 a share for Tegna, Bloomberg News reported in September. Soo Kim's Standard General dealt with a deal on Tuesday with Apollo Global Management to acquire TV station owner Tegna for $ 24 a share, or roughly $ 8.7 billion. Big publicly-traded broadcaster Tegna, which has been in play for months, agreed to sell itself to Standard General and investors led by Apollo Global Management and its Cox Media Group. Soo Kim's Standard General announced a complex deal on Tuesday with Apollo Global Management to acquire TV station owner Tegna for $24 a share, or roughly $8.6 billion. Media entrepreneur Byron Allen has raised $10 billion in preferred equity and debt for his bid for U.S. regional TV station operator Tegna Inc , hoping to prevail over a rival offer from investment firms Apollo Global Management Inc and Standard General LP, people familiar with the matter said. While Standard General expects the deal to close in the second half of the year, analysts differ on how lengthy the regulatory review might be. Standard General, Apollo close in on $9B deal for Tegna, sources say. A Soo Kim/Apollo Deal For TEGNA Is Done. Representatives for Apollo, Standard General and Tegna declined to comment. Pay Less. Tegna is sold to Standard General and Apollo Global Management. This time the Apollo-Standard General bid was $22 per share, the Post reports, citing people familiar with the matter. They also hold varying views about the bid's price. Their rivals included media mogul Byron Allen, who had teamed up with Ares Management Corp. last year to offer $23 a share. Reading regulatory tea leaves. It's a. The two private equity firms will buy the company for $24 per share, TEGNA announced Tuesday. The latest offer is an increase of about $2 per share . The Firm pursues a single strategy of opportunistic investing in levered middle-market companies. Apollo Global Management worked with Standard General on Monday to place a binding bid of over $ 8 billion on local TV owner Tegna, sources said. Tegna - Spun Off from newspaper giant Gannett in 2015 as a separate, publicly traded company - operates 64 TV and 2 radio stations across 54 US markets. Specifications. Tegna — spun off from newspaper giant Gannett in 2015 as a separate, publicly traded company — operates 64 TV (including KING 5 & KONG 16 Seattle) and 2 radio stations across 54 . An affiliate of Standard General will hold substantially all of the voting, common equity in the new entity that is acquiring TEGNA, with CMG and funds managed by affiliates of Apollo Global Management to hold securities in the new entity that will be non-voting and non-attributable and with other investors holding non-voting interests. Standard General and Apollo Global Management are buying local TV giant TEGNA in a multi-billion-dollar deal. Read reviews and buy Apollo Tools 39pc DT9706 General Tool Kit at Target. Choose from Same Day Delivery, Drive Up or Order Pickup. Tegna shares jumped as much as 10% in New York trading Friday after being temporarily halted. That's $5.4 billion, or $8.6 billion including the assumption of debt. That bid was later bumped to $22.65 per share, people familiar with the matter said. Standard General has announced a complex deal on Tuesday with Apollo Global Management to acquire TV station owner Tegna for $24 a share, or roughly $8.6 billion. TEGNA was formed in 2015 when Gannett was split, creating TEGNA for its TV stations and keeping its newspaper business separate. Standard General is purchasing television station owner Tegna in a deal valued at about $5.4 billion, the Associated Press reported Tuesday. The FCC and DOJ will be very interested and aware of ownership stakes in both companies. It's a cash deal for $24 a share. www.insideradio.com. It's a. Bloomberg reported in September that Standard General and Apollo were prepared to bid $22 per share for the company; in November, media mogul Byron Allen was said to have raised $10 billion from . Tegna and Apollo Global Management declined to comment, while Standard General did not immediately respond to a Reuters request for comment. Apollo Global Management, parent company of Cox Media Group, is partnering with Standard General Media to make a binding bid of more than $8 billion to purchase Tegna, which owns. Standard General and Apollo Global Management Inc APO closed in on a $9-billion deal for television station owner Tegna Inc TGNA, New York Post reports. On Monday (2/28), TEGNA will release its fourth quarter 2021 earnings and host an earnings call including such C-Suite leaders as Lynn . Big publicly-traded broadcaster Tegna, which has been in play for months, agreed to sell itself to Standard General and investors led by Apollo Global Management and its Cox Media Group. The consumers appear open to elevating their provide for the second time, sources stated. Apollo owns 33 TV stations in 20 markets through its portfolio company Cox Media Group, while Standard General owns four TV stations, according to their websites. Apollo Global Management had teamed up with Standard General and made an all-cash offer of approximately $22 per share. TGNA's price before this announcement was $20.95. Free standard shipping with $35 orders. Once the deal is done, Kim will become chairman and Deb McDermott, who runs . Negotiations have yet to begin between the companies, despite Apollo and Standard General . ; The buyers and Tegna have cleared a major . Apollo Global Management, parent company of Cox Media Group, is partnering with Standard General Media to make a binding bid of more than $8 billion to purchase Tegna, which owns 64 TV stations in 51 markets, along with sports talkers "The Fan" WBNS-FM (97.1) and "1460 ESPN" WBNS Columbus, OH. Black Round Tubes. Standard General and Apollo will seemingly must pay no less than $24 a share for Tegna, sources stated, after beforehand bidding $22.65. Buyers and Tegna have cleared what sources consider to be a major obstacle: the amount the Standard General-Apollo team has to pay if the transaction takes more than a year. Standard General, Apollo Global (NYSE: APO) Close in on $9B Deal for TEGNA (NYSE: TGNA) - NY Post (Reporting by Tiyashi Datta in . Bloomberg, which first reported. Cox told its local stations Tuesday morning that the plan is for. The Post also reports that Byron. Each of the brands under Apollo Standard are made for structural, fire system, and Agricultural/plumbing specific usage. Cool, maybe since Tegna sounds like it is finally getting sold they will stop trying to manipulate the market and negotiate with providers at reasonable prices and we can get our channels back, at least HOPEFULLY. A supply conversant in the matter put the probabilities of a deal at 50-50. A supply conversant in the matter put the probabilities of a deal at 50-50. Byron Allen teamed up with Ares Management Corp., offering $23 per share . The latest offer is an increase of about $2 per share over Apollo and Standard General's bid in September that was reported by Bloomberg News. In November, media entrepreneur Byron Allen had raised $10 billion . (Bloomberg) -- Standard General and Apollo Global Management Inc. are nearing a deal to acquire television broadcaster Tegna Inc. in a transaction valued at $24 a share, according to people familiar with the matter. The New York Post late Monday, citing unnamed sources, reported that Apollo Global Management -- the controlling party of Cox Media Group -- had teamed up with dissident investor Standard General . Standard General and Apollo Global Management had reportedly offered to buy Tegna last year and raised their offer shortly after. Expect More. 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