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TEGNA to be Acquired by Standard General for $24.00 Per Share

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Tuesday, February 22, 2022
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TEGNA Inc. (NYSE: TGNA) and Standard General L.P. today announced that TEGNA and an affiliate of Standard General have entered into a definitive agreement under which TEGNA will be acquired by the Standard General affiliate for $24.00 per share in cash.

Key Points: 
  • TEGNA Inc. (NYSE: TGNA) and Standard General L.P. today announced that TEGNA and an affiliate of Standard General have entered into a definitive agreement under which TEGNA will be acquired by the Standard General affiliate for $24.00 per share in cash.
  • We are excited to partner again with Deb McDermott, who previously spearheaded the broadcast group at Media General, where Standard General was a principal shareholder.
  • Also after closing, Premion is expected to operate as a standalone business majority owned by Cox Media Group and Standard General.
  • Standard General was founded in 2007 and manages capital for public and private pension funds, endowments, foundations, and high-net-worth individuals.