Feb 23
2022
Changes afoot at WGRZ
Big doings this week at WGRZ. Tuesday came the announcement that the station’s parent company, TEGNA, has been sold, pending approval by shareholders and the FCC. The buyer, Standard General, a hedge fund, presently owns just a handful of television stations; TEGNA consists of 64 stations, three of which will be sold as part of the transaction. TEGNA, NextStar and Sinclair, are considered the “Big Three” of television chains. Standard General is presently TEGNA’s largest shareholder. Ownership of the stations will go private when the transaction is finalized, which is expected in the second half of this year. The Manhattan-based[...]