M&A Deal Summary

Standard General Acquires TEGNA

On February 22, 2022, Standard General LP acquired media company TEGNA, Inc. for 8.6B USD

Acquisition Highlights
  • This is Standard General’s 1st transaction in the Media sector.
  • This is Standard General’s 1st largest (disclosed) transaction.
  • This is Standard General’s 1st transaction in the United States.
  • This is Standard General’s 1st transaction in Virginia.

M&A Deal Summary

Date 2022-02-22
Target TEGNA, Inc.
Sector Media
Buyer(s) Standard General LP
Deal Type Add-on Acquisition
Deal Value 8.6B USD
Advisor(s) J.P. Morgan Securities LLC
Greenhill & Co., Inc. (Financial)
Wachtell, Lipton, Rosen & Katz LLP
Covington & Burling LLP (Legal)

Target

TEGNA, Inc.

Tysons, Virginia, United States
website
TEGNA is a diversified media company. The Company operates through two business segments, Media and Digital. The Media segment comprises of 46 television stations in 38 markets. The Digital segment consists of the Cars.com (formerly Classified Ventures LLC) and CareerBuilder businesses. TEGNA, Inc. was formerly known as Gannett Co. TEGNA was originally established in 1906 and is based in Tysons, Virginia.

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Buyer(S) 1

Buyer

Standard General LP

New York, New York, United States

website


Category Company
Founded 2007
SectorFinancial Services
DESCRIPTION

Standard General manages capital for public and private pension funds, endowments, foundations, and high-net-worth individuals. Standard General was founded in 2007 and is based in New York.


DEAL STATS #
Overall 1 of 1
Sector (Media) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Virginia) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1