Gray Bidding on TEGNA - $8.5 BILLION (UPDATE: They're out)

[newsbot 269]

I wonder if the banks will start pulling back their support for the surviving bids, too, with the credit markets in freefall.

[scrabbleship 427]

1 hour ago, newsbot said:

I wonder if the banks will start pulling back their support for the surviving bids, too, with the credit markets in freefall.

I just realized that TegCoxPollo is going to be one of the worst nightmares for the networks: ABC's largest affiliate, CBS's two largest affiliates and Fox's largest affiliate all under one roof.  This...might be a good thing.

[CubsFan79 57]

22 minutes ago, scrabbleship said:

I just realized that TegCoxPollo is going to be one of the worst nightmares for the networks: ABC's largest affiliate, CBS's two largest affiliates and Fox's largest affiliate all under one roof.  This...might be a good thing.

This could be a problem in the Jacksonville TV market, with Tegna owning WTLV and WJXX, Apollo -  Cox  owning WFOX and SSA WJAX TV.

[dman748 1250]

4 hours ago, newsbot said:

I wonder if the banks will start pulling back their support for the surviving bids, too, with the credit markets in freefall.

 

3 hours ago, scrabbleship said:

I just realized that TegCoxPollo is going to be one of the worst nightmares for the networks: ABC's largest affiliate, CBS's two largest affiliates and Fox's largest affiliate all under one roof.  This...might be a good thing.

And given that all the Private Equity firms just have so much money to the point where the banks may not be as big of a factor for them as what it might be with Byron Allen.