TEGNA (TGNA - Free Report) recently announced that it has completed the acquisition of WTOL in Toledo, OH, and KWES in Midland-Odessa, TX, from Gray Television (GTN - Free Report) .
The all-cash deal worth $105 million is expected to be accretive to free cash flow immediately after closing of the transaction and to earnings in less than a year after its closure. Moreover, the transaction will have no material impact on TEGNA’s leverage, which is a positive.
Further, the acquisition has expanded TEGNA’s market reach. The company currently operates 49 TV stations in 41 markets, catering to one-third TV households in the United States.
Notably, TEGNA “remains the largest NBC affiliate group, the second largest CBS affiliate group and the largest owner of Big 4 affiliates in the top 25 markets”, per Management.
TEGNA Inc. Revenue (TTM)
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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TEGNA (TGNA - Free Report) recently announced that it has completed the acquisition of WTOL in Toledo, OH, and KWES in Midland-Odessa, TX, from Gray Television (GTN - Free Report) .
The all-cash deal worth $105 million is expected to be accretive to free cash flow immediately after closing of the transaction and to earnings in less than a year after its closure. Moreover, the transaction will have no material impact on TEGNA’s leverage, which is a positive.
Further, the acquisition has expanded TEGNA’s market reach. The company currently operates 49 TV stations in 41 markets, catering to one-third TV households in the United States.
Notably, TEGNA “remains the largest NBC affiliate group, the second largest CBS affiliate group and the largest owner of Big 4 affiliates in the top 25 markets”, per Management.
TEGNA Inc. Revenue (TTM)
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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