east-tx-tv 121 Posted March 18, 2020 Share Posted March 18, 2020 In this episode of As the Tegna Bidding War Turns, Trinity Broadcasting and Najafi, a Phoenix investment firm, are together offering $20/share. Nothing is said in the article about why TBN's parent is interested, unless they want to flip some of the stations to TBN in a mid-90s style Fox-New World type of deal. https://www.bizjournals.com/houston/news/2020/03/18/texas-broadcaster-teams-up-with-investment-firm-to.html Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/ Share on other sites More sharing options...
Samantha 2895 Posted March 18, 2020 Share Posted March 18, 2020 ...What the... Per the Republic, here's a bit about Najafi: The company's brands range from shampoo Pert Plus and airline catalog SkyMall to DVD-marketer Columbia House. The company also owns various upscale hotels and has a minority stake in the Phoenix Suns. Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242710 Share on other sites More sharing options...
tyrannical bastard 3953 Posted March 18, 2020 Share Posted March 18, 2020 "Churches" and private equity...... Now I've seen everything...... I know Tegna is screwed up, but are they betting on the rapture to save people's souls? This is an EMF style move that's only recently began to hit the ranks of radio after Cumulus and others wanted some quick cash.... Well at least T.D. Jakes could be safe..... Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242713 Share on other sites More sharing options...
dman748 1256 Posted March 18, 2020 Share Posted March 18, 2020 Given the situation were in, I am not surprised that the majority of the bidders for Tegna are Private Equity Firms, those firms are just stock pilling cash it's mind boggling now how they're able to do that in this period of economic uncertainty that were in right now and I think they're doing this so that way for whoever is closest to winning the bidding war for Tegna will have the cash needed to get the deal sealed and sent to the DOJ/FCC for approval. The fact that traditional media companies (e.g. Scripps, Meredith) haven't joined the fray tells me that the economic uncertainty is keeping those companies away from this bidding war and yesterday's news about Gray leaving the race didn't help those prospects for them. The more I'm analyzing and reading more into this the more it feels like the period from the late 2000s to the early 2010s where we saw several station groups sell to private equity firms and then once the economy turned around was when we saw those same PE-firms that bought TV stations during the recession cashing out and sold the stations, I think going forward it could happen again. Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242719 Share on other sites More sharing options...
TSSZNews 1051 Posted March 18, 2020 Share Posted March 18, 2020 This would be EXTREMELY bad for broadcasting if it happens. You'll be looking at network affiliations going to .2s in some major cities if this happens. But because it's stock-based, it probably won't happen. Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242722 Share on other sites More sharing options...
dman748 1256 Posted March 18, 2020 Share Posted March 18, 2020 1 minute ago, TSSZNews said: This would be EXTREMELY bad for broadcasting if it happens. You'll be looking at network affiliations going to .2s in some major cities if this happens. But because it's stock-based, it probably won't happen. That's the biggest drawback to that bid for that joint group if it was all cash like Apollo and Allen this would've worked instead they chosed stock and we all know that's not a good idea at this point in time. Right now at this point I say it's coming down to Apollo and Allen for Tegna with the Najafi/TBN bid likely coming in 3rd due to the stock based bid. Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242724 Share on other sites More sharing options...
channel2 979 Posted March 18, 2020 Share Posted March 18, 2020 What if TEGNA simply refuses to sell? Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242726 Share on other sites More sharing options...
TheRyan 560 Posted March 18, 2020 Share Posted March 18, 2020 Just now, channel2 said: What if TEGNA simply refuses to sell? Then Standard takes over (most likely). Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242727 Share on other sites More sharing options...
TheRyan 560 Posted March 18, 2020 Share Posted March 18, 2020 Although at this point I don't see TBN becoming the primary buyer, it's very possible that TBN could get stations that end up divested. But anything is possible. I hope that TBN is able to get at least a couple rejected stations from whatever eventual deal is made. Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242729 Share on other sites More sharing options...
dman748 1256 Posted March 19, 2020 Share Posted March 19, 2020 13 minutes ago, channel2 said: What if TEGNA simply refuses to sell? They can refuse to sell but by doing that they risk being taken over by Soo Kim and given that Tegna's stock has been holding generally in the mid teens a share (in spite of the huge stock market plunge) they're a prime candidate to be taken over by Soo Kim. So right now Tegna has 2 clear choices, they can avoid the takeover by selling to someone like Apollo or Allen or they say no to both of them and then eventually get forced into a takeover. Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242730 Share on other sites More sharing options...
TheRyan 560 Posted March 19, 2020 Share Posted March 19, 2020 3 minutes ago, oknewsguy said: They can refuse to sell but by doing that they risk being taken over by Soo Kim and given that Tegna's stock has been holding generally in the mid teens a share (in spite of the huge stock market plunge) they're a prime candidate to be taken over by Soo Kim. So right now Tegna has 2 clear choices, they can avoid the takeover by selling to someone like Apollo or Allen or they say no to both of them and then eventually get forced into a takeover. And I think we know Tegna is going to want to go on its own terms--not a takeover. Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242733 Share on other sites More sharing options...
TexasTVNews 1377 Posted March 19, 2020 Share Posted March 19, 2020 TBN and Tegna... It's not just a no, it's a... OH, HELL NO! Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242739 Share on other sites More sharing options...
detroiter313 180 Posted March 19, 2020 Share Posted March 19, 2020 6 hours ago, east-tx-tv said: In this episode of As the Tegna Bidding War Turns, Trinity Broadcasting and Najafi, a Phoenix investment firm, are together offering $20/share. Nothing is said in the article about why TBN's parent is interested, unless they want to flip some of the stations to TBN in a mid-90s style Fox-New World type of deal. I swear this has got to be an early-April Fool's joke.... Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242742 Share on other sites More sharing options...
tyrannical bastard 3953 Posted March 19, 2020 Share Posted March 19, 2020 I can see it now....taking the C-Clarity and adding some tambourines, a church organ and a gospel choir.... Ok...I'll shut up now. Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242746 Share on other sites More sharing options...
dman748 1256 Posted March 19, 2020 Share Posted March 19, 2020 48 minutes ago, detroiter313 said: I swear this has got to be an early-April Fool's joke.... Only if that was from The Onion. In this case, this isn't from the Onion. Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242747 Share on other sites More sharing options...
johnnya2k6 171 Posted March 19, 2020 Share Posted March 19, 2020 And TBN is actually headquartered in Southern California; their mailing address (P.O. Box A, Santa Ana, CA 92711) has always been the same since day one, but they do have a major operation in Texas. But TBN taking the Tegna stations?! Which one would be its WGTW (the low-power Philadelphia independent that once upon a time was WKBS)? Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242756 Share on other sites More sharing options...
Weeters 1916 Posted March 19, 2020 Share Posted March 19, 2020 I doubt TBN's goal here is to gain more .1's, but it wouldn't surprise me to see TBN get offered on these stations as a .2-whatever in the unlikely event this actually happens. You want to talk about cap space and shell companies? TBN is already at 35% and directly operates a shell company (Community Educational Television) to get around the cap. I doubt they're going to end up as the "owner", Najafi would simply add the Tegna brand to their, uh, diversified portfolio and TBN would get the rights to a subchannel or two in exchange for financing part of the purchase. I could be wrong, but I don't think any equity firms in 2020 would get involved with a scheme to buy up a bunch of decent big 4 TV stations and flip them to what is essentially a religious TV network repeater. Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242760 Share on other sites More sharing options...
dman748 1256 Posted March 19, 2020 Share Posted March 19, 2020 1 hour ago, Weeters said: I doubt TBN's goal here is to gain more .1's, but it wouldn't surprise me to see TBN get offered on these stations as a .2-whatever in the unlikely event this actually happens. You want to talk about cap space and shell companies? TBN is already at 35% and directly operates a shell company (Community Educational Television) to get around the cap. I doubt they're going to end up as the "owner", Najafi would simply add the Tegna brand to their, uh, diversified portfolio and TBN would get the rights to a subchannel or two in exchange for financing part of the purchase. I could be wrong, but I don't think any equity firms in 2020 would get involved with a scheme to buy up a bunch of decent big 4 TV stations and flip them to what is essentially a religious TV network repeater. My thinking here is very simple a sale would most likely be to someone like Apollo (which they clearly seem to have the deepest pockets right now out of the groups that remain in the running) I don't think Najafi stands a chance given what they're offering which is an all-stock deal. Clearly they want to meet the same demise as Gray in my eyes. Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242763 Share on other sites More sharing options...
tyrannical bastard 3953 Posted March 19, 2020 Share Posted March 19, 2020 The way this market is going, all of us on TVNT could scrape our spare pennies together and make Tegna an offer they couldn't refuse! Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242774 Share on other sites More sharing options...
24994J 5577 Posted March 19, 2020 Share Posted March 19, 2020 1 hour ago, tyrannical bastard said: The way this market is going, all of us on TVNT could scrape our spare pennies together and make Tegna an offer they couldn't refuse! I've got a nice, crisp, fancy-ass Thomas Jefferson $2 bill to donate to the cause. Those are rare enough. Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242778 Share on other sites More sharing options...
tyrannical bastard 3953 Posted March 19, 2020 Share Posted March 19, 2020 21 minutes ago, 24994J said: I've got a nice, crisp, fancy-ass Thomas Jefferson $2 bill to donate to the cause. Those are rare enough. I'll dig up some of my Trump $3 bills too...together we can make TEGNA great again! Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242780 Share on other sites More sharing options...
ABC 7 Denver 1715 Posted March 19, 2020 Share Posted March 19, 2020 Oh god! "The end of every newscast must contain a prayer." Think about the declarations of must runs that would be included. Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242796 Share on other sites More sharing options...
dman748 1256 Posted March 19, 2020 Share Posted March 19, 2020 5 hours ago, tyrannical bastard said: The way this market is going, all of us on TVNT could scrape our spare pennies together and make Tegna an offer they couldn't refuse! I can't foresee Standard General selling Tegna for pennies on the dollar any smart hedge fund company wouldn't just sell some piece of property like television stations for pennies on the dollar just because the economy is tanking, the preference here is to get the most money out of it they can get with the conditions you have and right now given the circumstances were in I think $20 a share is the most likely outcome since how nobody wants to go north of $20 a share right now (likely because Tegna's stock just can't seem to go north of $18 a share) Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242798 Share on other sites More sharing options...
Joe Capitano 4 Posted March 20, 2020 Share Posted March 20, 2020 On 3/18/2020 at 8:14 PM, detroiter313 said: I swear this has got to be an early-April Fool's joke.... EXACTLY! Matt Crouch was talking this up during tonight's "Praise" program (what little I saw of it), but as I see it this is nothing more than a very slickly engineered and two-weeks early April Fools Joke. O'course if this were to somehow actually happen this sidecar would inherit at least three Tegna duopolies in markets where TBN already has stations of its own, including Seattle (the legendary KING/5 & KONG/6-16 from Tegna, KTBW/20 from Trinity). That wouldn't look good. TBN itself would also likely face another hurdle - losing its non-profit status which allows it to chase down viewer contributions, which means more than several tax men would be pounding on the TBN door in Texas (where corporate is now located) to take a good long look at the books. I think we can all do the math here. Tegna and TBN will not link up in any way, shape or form. Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242810 Share on other sites More sharing options...
johnnya2k6 171 Posted March 20, 2020 Share Posted March 20, 2020 8 hours ago, Joe Capitano said: EXACTLY! Matt Crouch was talking this up during tonight's "Praise" program (what little I saw of it), but as I see it this is nothing more than a very slickly engineered and two-weeks early April Fools Joke. Paul and Jan Crouch (Matt’s parents who started up TBN) would’ve rolled in their graves! Link to comment https://localnewstalk.net/topic/17607-another-tegna-bidder-trinity-broadcasting-partner/#findComment-242817 Share on other sites More sharing options...
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