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Why Shares of Tegna Jumped Almost 20% This Week

·1 min read
Why Shares of Tegna Jumped Almost 20% This Week
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Shares of TEGNA (NYSE: TGNA) -- the media company previously known as Gannett -- have climbed nearly 20% so far this week as of Thursday afternoon. For years media companies have been trying to get their hands on Tegna's television and radio assets that span 51 U.S. markets. It was also reported that entrepreneur and former comedian Byron Allen, in addition to Apollo Global Management, were part of the bidding.