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    TGNA   US87901J1051

TEGNA INC.

(TGNA)
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Tegna Confirms Acquisition Offers After Report of Bids from Apollo, Byron Allen

09/21/2021 | 04:07pm EDT

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.


© S&P Capital IQ 2021
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Analyst Recommendations on TEGNA INC.
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Financials (USD)
Sales 2021 3 003 M - -
Net income 2021 460 M - -
Net Debt 2021 3 150 M - -
P/E ratio 2021 10,0x
Yield 2021 -
Capitalization 4 537 M 4 537 M -
EV / Sales 2021 2,56x
EV / Sales 2022 2,07x
Nbr of Employees 6 430
Free-Float 67,7%
Chart TEGNA INC.
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TEGNA Inc. Technical Analysis Chart | TGNA | US87901J1051 | MarketScreener
Technical analysis trends TEGNA INC.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Last Close Price 20,52 $
Average target price 22,29 $
Spread / Average Target 8,60%
EPS Revisions
Managers and Directors
David T. Lougee President, Chief Executive Officer & Director
Victoria Dux Harker Chief Financial Officer & Executive Vice President
Howard D. Elias Chairman
Kurt Rao Chief Technology Officer
Mark Morneau Vice President-Information Technology
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