TEGNA Mergers and Acquisitions Summary

MediaCompany

TEGNA has acquired 29 companies of its own, including 4 in the last 5 years. A total of 3 acquisitions came from private equity firms. It has also divested 9 assets.

TEGNA’s largest acquisition to date was in 2000, when it acquired Central Newspapers for $2.6B. TEGNA has acquired in 17 different US states. The Company’s most targeted sectors include media (50%) and staffing (11%).

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M&A Summary

  • M&A Total Activity37
    • M&A Buy Activity28
    • M&A Sell Activity9
  • Total Sectors Invested 7
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 21
  • M&A Advisors 7

TEGNA

TEGNA, Inc.

8350 Broad Street Suite 2000,
Tysons, Virginia 22102
United States,
(703) 873-6600
www.tegna.com

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.


M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (0.8/yr) # 24 2 1 - 1 - 28
vol $7.1B $105M $91M $7.3B
Sell (0.2/yr) # 8 - 1 - - - 9
  37

Most Recent M&A

Company Date Value Type
Locked On Podcast Network 2021-01-27 - Add-on Acquisition
, United States · www.lockedonpodcasts.com
Cooper Holdings, Inc. (Justice Network & Quest Network) 2019-05-06 91M USD Divestiture
Atlanta, Georgia · www.justicenetworktv.com
The Big Lead 2019-03-15 - Divestiture
New York, New York · thebiglead.com
Gray Television, Inc. - Television Stations 2018-08-20 105M USD Divestiture
Toledo, Ohio
Midwest Television, Inc. - Broadcasting Stations 2018-02-15 - Divestiture
San Diego, California
ShopLocal LLC (Cofactor Digital) 2016-12-15 - Divestiture
Chicago, Illinois · www.cofactordigital.com
Sightline Media Group LLC 2016-03-21 - Divestiture
Vienna, Virginia · www.sightlinemediagroup.com
Clipper Magazine LLC 2015-11-05 - Add-on Acquisition
Mountville, Pennsylvania · www.clippermagazine.com
Gannett Co., Inc. (old) 2015-06-08 - Spin Off
McLean, Virginia
Schedule Star LLC 2015-01-05 - Divestiture
Wheeling, West Virginia · www.schedulestar.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Nursing Spectrum, Inc.    - NurseWeek Publishing, Inc. 2004-02-02 1
Westbury, New York · www.nursingspectrum.com Sunnyvale, California · www.nurseweek.com

M&A by Sector

Sector Buy # Value Sell # Value
Media 14 (50%) 7.1B (97%) 1 (11%) -
Publishing 2 (7%) - 4 (44%) -
Internet Software and Services 3 (11%) - 1 (11%) -
Marketing 3 (11%) 75M (1%) 1 (11%) -
Staffing 3 (11%) 135M (2%) - -
Software 2 (7%) - - -
Digital Media 1 (4%) - 1 (11%) -
Education - - 1 (11%) -
Total 28 $7.3B 9 -

By Geo

State/Country Buy Value Sell Value
United States 28 7.3B 9 -
  Illinois 4 210M 2 -
  Pennsylvania 2 - 1 -
  New York 2 - 1 -
  Virginia 1 - 2 -
  Texas 2 2.2B - -
  Ohio 2 105M - -
  Massachusetts 2 - - -
  Georgia 2 91M - -
  Arizona 1 2.6B 1 -
  West Virginia 1 - 1 -
  South Carolina 1 1.7B - -
  Nebraska 1 - - -
  Michigan 1 - - -
  Kentucky 1 - - -
  Colorado 1 - - -
  California 1 - - -
  New Jersey - - 1 -
Total 28 $7.3B 9 -

Top M&A Advisors

Financial Deals
Seale & Associates, Inc.
1
J.P. Morgan Securities LLC
1
Greenhill & Co., Inc.
1
Legal Deals
Nixon Peabody LLP
2
Wachtell, Lipton, Rosen & Katz LLP
1
Paul Hastings LLP
1

Deal Values

buy # Total
> $1B 3 $6.5B
$100M to $1B 4 $635M
< $100M 2 $166M
TOTAL $7.3B
Largest Central Newspapers, Inc.
$2.6B (2000-06-28)

M&A Connections

Deals
Acquired from
Investor(s)
7%
2 (7%)
Strategic(s)
29%
8 (29%)
Divested to
Investor(s)
11%
1 (11%)
Strategic(s)
78%
7 (78%)

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