Trump Opposition Sinks Tegna Stock as TV Merger Deal Faces Uncertainty
Tegna shares dropped 4% after Trump opposed FCC ownership cap changes, threatening Nexstar's $6.2B acquisition and creating turmoil in TV broadcasting consolidation plans.
Tegna shares dropped 4% after Trump opposed FCC ownership cap changes, threatening Nexstar's $6.2B acquisition and creating turmoil in TV broadcasting consolidation plans.
Sinclair proposes to acquire all EW Scripps shares it doesn’t already own for $7.00 per share, offering cash and stock options and a 200% premium to recent trading levels.
Sinclair acquires 8% stake in E.W. Scripps to push for merger deal. The broadcast TV consolidation could create larger competitor against streaming giants.