August 21, 2019 / 2:15 PM / 2 months ago

TV station operator Tegna confirms buyout interest from Apollo Global

Aug 21 (Reuters) - U.S. TV station operator Tegna Inc on Wednesday confirmed it received buyout interest from Apollo Global Management but said the private equity firm had not specified a price.

The company said Apollo disclosed its interest in a letter in late February. Tegna’s shares fell 6% in early trading.

In June, Apollo made another proposal to merge Tegna into some of the other broadcast assets it has been buying, in a deal that would not have changed the ownership of the broadcaster, Tegna said in a statement.

Last week, the Wall Street Journal reported that Apollo Global had approached Tegna about a sale earlier this year, citing people familiar with the matter.

Tegna said it would not make any further disclosures about the matter. (Reporting by C Nivedita in Bengaluru Editing by Saumyadeb Chakrabarty)

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