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TEGNA Inc.

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TEGNA is focused on acquiring lucrative businesses along with making additional investments to increase shareholder’s wealth. Recently, TEGNA has inked a deal to acquire the broadcasting stations of Midwest Television. The assets will be added to the company’s existing media division. TEGNA’s plan to use the $250 million of gross proceeds from the sale of its web portal CareerBuilder, to clear off existing debt, looks impressive. Spin-off of its auto-sales website, Cars.com into two publicly traded companies: TEGNA and Cars.com, should increase TEGNA's growth opportunities and appropriate market valuations. However, TEGNA’s operation in a competitive broadcast TV industry remains a concern. The U.S. broadcast TV industry has long been grappling with declining advertising revenues and global economic volatility. Over the past six months, the stock grew 3.7% but failed to beat the industry’s gain of 9.2%.


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