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Sinclair Explores Merger with Tegna in Potential Media Shakeup
Sinclair Explores Merger with Tegna in Potential Media Shakeup
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BTCCSquare news:
Sinclair Inc. (SBGI) has proposed a merger of its broadcast TV business with rival Tegna (TGNA), a move that could reshape the U.S. media landscape. The deal, valuing Tegna shares at $25-$30 apiece, WOULD involve spinning off Sinclair's Ventures division, which includes niche assets like the Tennis Channel. Market reaction was immediate: SBGI rose 4% pre-market, while TGNA surged 9%.
The proposal arrives as Tegna is already in advanced negotiations with Nexstar Media Group (NXST), setting the stage for a potential bidding war. Sinclair's board recently authorized a strategic review of its broadcast operations, signaling readiness for portfolio restructuring. Regulatory scrutiny looms as the largest local TV station owners consolidate.
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