Byron Allen Likely to Get Tegna

A number of companies have been making a play to buy Tegna and it has helped drive up the company’s stock price.

Hedge firms like Standard General and Apollo teamed up an made a play. But, no one has been more aggressive in trying to buy Tegna than Byron Allen.

Allen owns The Weather Channel and a number of other stations scattered around the country, but owning Tegna would turn him instantly into a major player.

Tegna is seen by many as an undervalued company with poor leadership that has lost its way.

The feeling among many is that if Tegna had a better leadership, it could prosper as a company and maybe get back to doing real journalism and not the crap that many of their stations are putting out.

In siders expect Tegna will announce their choice of a new buyer very soon and Byron Allen will be the likely choice when they do so.

Stay tuned….