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TEGNA To Buy WTHR And WBNS' Television, Radio Stations - Quick Facts

TEGNA Inc. (TGNA) has reached a deal with Dispatch Broadcast Group to acquire television stations WTHR and WBNS for $535 million. WTHR serves Indianapolis and WBNS serves Columbus, Ohio's state capital. The deal also include the acquisition of WBNS Radio in Central Ohio.

TEGNA expects the acquisition to be EPS accretive within a year after close and immediately accretive to free cash flow per share. The company said it will finance the acquisition through the use of available cash and borrowing under existing credit facility.

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