TEGNA Inc. (NYSE:TGNA) confirmed on September 21, 2021 it had received acquisition proposals and were being reviewed, after a report said private equity giant Apollo Global Management, Inc. (NYSE:APO) and media entrepreneur Byron Allen had bid for the TV firm. On September 21, 2021, Bloomberg News reported here Allen had teamed up with Ares Management Corporation (NYSE:ARES) to offer $23 per share for Tegna, citing a person familiar with the matter. Apollo, along with co-bidder Standard General L.P., also made an all-cash offer of nearly $22 a share for the media company, the report added. As of June-end 2021, Standard General is the fourth-largest shareholder of Tegna, with a 4.8% stake, according to data from Refinitiv. The offers from Allen and Apollo would value Tegna at $5.1 billion and $4.9 billion respectively, according to Reuters calculations. Apollo, Standard General and Ares Management did not immediately respond to Reuters requests for comment.