Signaling ongoing consolidation of the broadcast business, Gray Television has made an $8.5 billion bid for larger rival Tegna, according to Reuters, sending Tegna stock up by more than 30% in prem…
, according to Reuters, sending Tegna stock up by more than 30% in premarket trading Friday in what looks set to be an otherwise down market.
Last week, the companies announced a strategic partnership with Gray acquiring a minority stake in Premion, Tegna’s Connecticut OTT ad business.
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