Standard General, Apollo Near $24-Per-Share Tegna Deal
- Purchase of broadcaster could be announced as soon as Tuesday
- Deal may have extra premium if regulatory review drags on
Tegna Inc. headquarters in McLean.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Standard General and Apollo Global Management Inc. are nearing a deal to acquire television broadcaster Tegna Inc. in a transaction valued at $24 a share, according to people familiar with the matter.
An agreement could be announced as soon as Tuesday, the people said, asking not to be identified because the matter is private. In a nod to potential antitrust scrutiny of the deal, the buyers have agreed to pay an additional amount per share for each month that the regulatory review takes after an initial period, the people said.