Gray Television withdraws Tegna offer amid coronavirus rout -sources [Reuters]
Gray Television, Inc. (GTN)
Last gray television, inc. earnings: 2/27 06:30 am
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Source: Reuters
Gray Television withdraws Tegna offer amid coronavirus rout: sources (Reuters) - Gray Television Inc ( GTN.N ) has withdrawn its offer to acquire larger peer Tegna Inc ( TGNA.N ) because of concerns about the impact of the coronavirus outbreak on U.S. regional TV station operators, people familiar with the matter said on Tuesday. Gray had offered to buy Tegna for about $8.5 billion, including debt, Reuters reported earlier this month. After Gray’s stock tumbled on the news and concerns about the coronavirus pandemic’s financial impact became widespread, the Atlanta-based company decided this was not the time to pursue the transformative acquisition, one of the sources said. Private equity firm Apollo Global Management Inc ( APO.N ) and media mogul Byron Allen, which also had made $20-per-share all-cash offers for Tegna, remain in contention to buy the company and deal negotiations are continuing, the sources said. Tegna has been engaging with bidders and allowing them to carry o
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GTN
Earnings
- 11/8/24 - Miss
GTN
Sec Filings
- 12/18/24 - Form 4
- 12/11/24 - Form 144
- 12/3/24 - Form 4
- GTN's page on the SEC website