Sound + Vision. Tegna Inc, of the US, has agreed with Dispatch Broadcasting Group to acquire local TV stations WTHR (NBC affiliate in Indianapolis, IN) and WBNS (CBS affiliate in Columbus, OH) along with sports radio station WBNS (Central Ohio). The consideration will be $535m in cash, representing almost 8x EBITDA. The purchase deepens Tegna’s reach in local TV and radio markets, and the company expects the acquisition to be earnings positive after one year. The deal follows previous Tegna purchases this year, of 11 stations from Nexstar-Tribune in March for $740m and Justice Network and Quest from Cooper Media in May for $77m.
Tegna buys Despatch TV stations
