M&A Deal Summary

Standard General Acquires TEGNA

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

Acquisition Highlights
  • This is Standard General’s 1st transaction in the Media sector.
  • This is Standard General’s 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
Sector Media
Buyer(s) Standard General
Deal Type Add-on Acquisition
Deal Value 8.6B USD
Advisor(s) J.P. Morgan Securities
Greenhill & Co., Inc. (Financial)
Wachtell, Lipton, Rosen & Katz
Covington & Burling (Legal)

Target

TEGNA

Tysons, Virginia, United States
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

New York, New York, United States
Category Company
Founded 2007
Sector Financial 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
Mergr

Product

Company

Legal