Now it has been reported that several buyers are making an offer to buy Tegna Television and its 66 television stations. Right now Reuters has reported that both Gray Television and an investment group are offering $20 per share to buy Tegna.
This is all happening as OTA TV is becoming more important. Not only that but they are still getting paid by cable and streaming services to carry them. This means as cord cutting grows, traditional broadcast TV stations are being seen as a safer bet than more traditional cable TV networks. This has lead to a growing number of OTA TV stations launching recently including Court TV, Circle TV, Stadium, and more.
The question now is how much more consolidation the government will allow. Recently we have seen several major and minor owners of local TV stations merge into larger groups. At some point, the FCC and DOJ will have to put an end to these mergers if they plan to keep the diversification rules in place. For now, we have not gotten that far.
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