Media Coverage
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
02.22.22
A team of Pillsbury lawyers led by Communications partner Scott Flick advised Standard General L.P. in their acquisition of television broadcaster TEGNA Inc. The deal is expected to close in the second half of the year.
The definitive agreement would pay existing shareholders $24 per share, resulting in an equity value of approximately $5.4 billion and enterprise value of $8.6 billion including the assumption of debt.
Other team members included senior counsel Lauren Lynch Flick, special counsel Lee G. Petro, counsel Jessica T. Nyman, and associate Betsy Craig.
The team also advised Standard General on several other interconnected acquisitions including the sale of Community News Media to Cox Media Group, Standard General’s acquisition of WFXT in Boston from Cox Media Group, and the post-merger sale of five TEGNA Texas television stations to Cox.
Read the full press release here.