Tegna Confirms Past Apollo Purchase Offers
Apollo Global Management made overtures to acquire Tegna early in 2019 and again in June, Tegna confirmed in a Wednesday news release. Tegna received a letter from Apollo in February “stating that Apollo was interested in acquiring TEGNA without specifying…
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a price,” it said. This June, Apollo proposed “to combine TEGNA with broadcasting assets Apollo is in the process of buying, in a transaction that would not have constituted a change of control of TEGNA,” the broadcaster said. Apollo has pending deals to buy Cox’s TV and radio stations along with TV stations from Northwest Broadcasting (see 1906260083). Apollo didn’t comment.