Deals
TV Broadcaster Tegna in Advanced Sale Talks With Standard General
- Apollo-backed deal could be worth about $24 per Tegna share
- Agreement may be reached in coming weeks if talks succeed
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Television broadcaster Tegna Inc. is in advanced discussions with one of its largest shareholders, Standard General, about a potential buyout at about $24 a share, according to people familiar with the matter.
The deal would be backed by alternative asset manager Apollo Global Management Inc., which is in talks to receive preferred shares in Tegna and won’t have voting rights, the people said, asking not to be identified because the matter is private.