Apollo Shows Interest in Tegna

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The group that is buying the Cox stations, also showed an interest in buying the Tegna stations as well.

The Wall Street Journal reports that Apollo Global Management had approached Tegna about a deal.

The private-equity is looking to build a media group. The deal for the Cox stations is expected to be approved this Fall and Apollo is very interested in buying up more stations.

The Journal says that Apollo first contacted Tegna about a potential transaction at the beginning of the year. They sent a letter to the board in February, expressing interest in buying the company at a premium, and it has remained in regular contact despite so far being rebuffed.

Apollo is also said to be interested in the Meredith stations and other groups.

Meredith and Tegna both say they are not for sale.

Stay tuned….