When Nexstar Media Group(NXST) struck a $6.2 billion all-cash deal to acquire TEGNA(TGNA), promising to consolidate 265 stations across 44 states and reach nearly 80% of U.S. households, this wasn’t just a merger. It was a broadcasting tectonic shift—a true mega-merger. Let’s unpack the implications, spin-off history, and yes—the unfortunate brand names. 1. Why “Mega-Merger” Isn’t an Overstatement… Read More »
Let’s kick off the week with some deal talk. Last week we touched on Apollo’s (APO) potential buyout of Arconic (ARNC) and if completed, it would just be another example of spinoff/parent company being taken out. Once the separation announcement is made or even the ‘strategic alternatives’ one, the market knows that a sale is possible. In that vein,… Read More »
TEGNA’s (TGNA) Board of Directors officially approved the spinoff of Cars.com and expects the transaction to be completed on May 31st. TEGNA shareholders as of May 18th should receive 1 share of the new company for every 3 TGNA shares owned. Cars.com is expected to trade on the NYSE under the ticker ‘CARS’, which I think we can… Read More »