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dman748

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Everything posted by dman748

  1. dman748
    Exactly and I think Gray is doing it the right way by recognizing that their employees should be taken care of. Tegna on the other hand, is doing it the wrong way. What Lougee needs and should worry about is making sure that his employees are taken care of and paid in full, they don't need their paychecks reduced under any circumstances
  2. dman748
    Gray Television respectfully disagrees, in fact they have come out and essentially said no they're not going to do layoffs P.S. Link is behind the paywall
  3. dman748
    First off it's not an obsession it's a simple fact that Kim has taken on an investment into Tegna and he doesn't want to waste his 11.8% in Tegna, period. And as typical you just had to bring up a topic that doesn't need to get brought up that will derail this thread so I suggest we stop that "race" thing now.
  4. dman748
    We'll find out April 30th, but Kim is not deterred by anything not even COVID-19 is slowing down his quest to either get Tegna to sell or takeover the company and he's NOT going to let Tegna's rejection of his nominees stop him from getting what he wants. Period.
  5. dman748
    I got some WBNS vibes in that "10" although it's not exactly in the style of WBNS's logo.
  6. dman748
    My biggest takeaway is this quote from Soo Kim This is referring to a claim that Tegna made on Thursday that Kim selling 5 million shares "troubling" and tried to make it as if Kim was selling his stock in Tegna, obviously as it's been the case for the last several weeks and even a couple of months it's blown up in the faces of Tegna's executives. I think Kim is preparing for a takeover of Tegna because there's no way Kim would've increased his stake in Tegna if he wasn't actually preparing to takeover Tegna. I also anticipate Kim increasing his stake in Tegna in the coming weeks leading up to the all important shareholder meeting. Overall, Tegna is CLEARLY under pressure from Kim and they can't continue citing COVID-19 as a reason to not doing something something simple as selling the company
  7. dman748
    I agree it probably should happen but the issue I simply can't get past is Soo Kim. He's not going to wait until things get better for something to happen, afterall he didn't wait until the economy to get better when he bought into Young Broadcasting (which at that time they were bankrupt) Obviously Tegna isn't bankrupt here but it has severely underperformed against its peers and no matter what's going on with COVID-19 Kim's going to get what he wants. If I were in his shoes I would agree and wait until things got better when the better offers would come, unfortunately I'm not.
  8. dman748
    I really think that April 30th (that's when the annual shareholder meeting will take place) we'll really find out whether Tegna can behave and engage in talks or keep the same tired old rhetoric they've been saying for a long time and risk being taken over. Overall I think the more the 2 trade blows at each other the more I think at some point something is going to have to give. Right now Tegna has no plan on how to stop Kim's advances (e.g. Poison Pill, they're using the Gold card and not the Green Card which they should be using. Right now I don't see the behavior's of either Tegna or Kim changing for at least the next several weeks. Follow-up #3: Reuters has came out with this article and here's additional comments by Soo Kim I think right now, Tegna has at least 29 days to figure this out. Open up to bidders WITHOUT any restraints or hesitations, you can get a deal done with either Allen or Najafi/TBN Continue resisting calls and coming out with statements like we saw Sunday, and they'll face a takeover. Those are 2 very clear choices, no ifs ands or buts about it.
  9. dman748
    2nd Follow-Up: This Proxy Fight is going to get more and more interesting as we get closer to that April 30th shareholder meeting. So today, Soo Kim came out with a definitive proxy fight to Tegna's shareholders citing the lack of performance and everything else that Kim has refrenced to in the past. Tegna as usual continues to defend the same thing they've been defending all while yesterday Tegna's stocks fell down nearly 20% and at one point during the trading session, Tegna was trading under $10 a share. I don't think that COVID-19 is the sole reason for Tegna's sudden collapse on the stock market a lot of it has to do with the fact that people are showing a no confidence vote to Dave Lougee and with today they closed just shy of $11 after Soo Kim's responses to Tegna shareholders. So putting two and two together I think whenever Lougee or even Tegna itself talks it sends their stocks down and when Kim talks they go up And finally, Kim also launched the Tomorrow's Tegna website https://tomorrowstegna.com/ Lot's to digest but that is the latest edition of As the Proxy Fight Turns
  10. dman748
    Follow-up #1: In the latest edition of As the Proxy Fight Turns, Soo Kim (as expected) commented on Tegna's announcement from yesterday and to no one's surprise it's very provacative. Here's the statement: So COVID-19 has not stopped Soo Kim from pursuing a takeover of Tegna and I actually can't blame Kim for that one bit. Another Standard-Tegna update, former Tribune executive Larry Wert has dropped out of the running for a spot on Tegna's board and no it's not because of COVID-19 but because of a clause within his contract that prevents Wert from joining another company for at least a year (which was included in Wert's contract when he was running Tribune)
  11. dman748
    So Tegna has finally responded to Soo Kim's request to talk about the bid's and apparently 2 of the parties (one of them presumably Apollo the other being Gray) has dropped out of the running for Tegna due to COVID-19 concerns https://www.tegna.com/tegna-reports-on-acquisition-approaches/ So that leaves the Najafi/TBN and Byron Allen unless Soo Kim comes in to takeover.
  12. dman748
    Looking at the schedule on the TV Guide app, they replaced the 12pm newscast with Inside Edition. I imagine it's just a temporary move.
  13. dman748
    If I had to guess some of the stations within Scripps are in a disagreement in terms of how they want to get the new pkg rolled out to their stations I can tell some want to get it done as soon as possible (KGTV, KSHB) others think that a new pkg is the least of their worries right now and I don't think WXYZ is the only one in that camp, I'm sure there has to be other Scripps stations that likely feel the same way as WXYZ right now.
  14. dman748
    Apollo and Allen was the best hope. Problem isn't those groups or COVID-19, the problem is Tegna's Board of Directors' resistence and their attitude towards these groups who are bidding for them have become a problem in fact throughout the lengthy filing I read I saw no mention of either of the bidders for Tegna in the filing whereas Standard General was mentioned a bunch of times in the filing. Overall in my eyes, the attitude on the part of the board of directors tells me they'd much rather be taken over by Soo Kim than to do the right thing and sell.
  15. dman748
    Meanwhile just reading some of the information from the filings Tegna made earlier today it seams as if Tegna is not preparing to be sold they're preparing to be taken over by Soo Kim https://www.streetinsider.com/SEC+Filings/Form+PRER14A+TEGNA+INC/16660413.html The reason you're not seeing the figure information on here is because right now all the parties involved are sitting in some form of video call, etc. figuring up the costs associated with the Standard General takeover of Tegna.
  16. dman748
    COVID-19 hasn't prevented TV stations in general from rolling out new graphics. If it hasn't stopped Tegna from rolling out new graphics on their stations it wouldn't stop the Scripps stations from rolling out new graphics either. My thinking here is Scripps is likely getting feedback from their stations that have already rolled out this package and what they want different within the pkg to make it work for their market I don't think COVID-19 has anything to do with why we haven't seen new Scripps stations rolling out this pkg in a while because it started slowing down even before COVID-19 took hold.
  17. dman748
    That's because the tech people haven't had the chance to remove the Eyewitness News 13 from the link yet, they will eventually. It takes time for things like that to change over it can't just happen overnight and besides I'd be willing to bet that the people who have been working on this project just recently started working from home amid COVID-19.
  18. dman748
    Wait, are you saying that Henrich can't come into the building on April 1 to start his new job?
  19. dman748
    Is Tegna actually looking into going to a new website or no? Because it could be anything at this point
  20. dman748
    If that's the case then I'd suggest taking it to the mods and admins in a direct message and see if they can help you get that resolved.
  21. dman748
    I mean even WBNS rolled out the Tegna gfx/music even when the national emergency was just getting underway so I'm not really surprised.
  22. dman748
    Here's the screenshot of what it would look like and there should be a button that looks something like that down below in this post In other news, the heat and the pressure on Tegna to either sell the company or face being taken over is being turned up and turned up by quite a bit. Standard General Founding Partner Soo Kim has come out with this statement regarding the situation within Tegna that's been an evolving situation over the last 2 weeks. Is Soo Kim acting like a bully in this situation? Yes but that's only because Tegna (who's just as much responsible for this as Kim is) put him in this spot by not being negotiable with Kim and by rejecting every nominee that Kim has sent to be on Tegna's board that are more qualified for the job and has years of experience working at various station groups in some capacity than what some of the people on Tegna's board are. After all Kim didn't buy nearly 10% of Tegna for nothing.
  23. dman748
    Exactly and I think both Apollo and Allen present the best of the best options Tegna can ask for and it shows. Btw, I've been anticipating this potential Apollo-Tegna marriage since this post I made below when the rumors started flowing about Apollo and Tegna, Apollo-Tegna back in August would've not made any sense but now they have Cox everything just fits in perfectly for the Cox stations.
  24. dman748
    That may not be that bad of an idea at all
  25. dman748
    Pretty much WSAZ doesn't have to worry about social distancing that their competitors have to worry about.
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