Standard General is taking television station owner Tegna private in a deal valued at about $5.4 billion, Associated Press reported. An affiliate of Standard General will pay $24 in cash for each Tegna share. The transaction has an enterprise value of approximately $8.6 billion, including the assumption of debt. Tegna was formed in 2015 when it was split off from Gannett, which retained its print media. Tegna, based in Virginia, owns 64 television stations in 51 U.S. markets, including WOI and KCWI in the Des Moines market.
