Denver’s 9News is owned by TEGNA, a multi-billion-dollar media company that owns or operates nearly 70 TV stations across the country. TEGNA has been on the block – officially or unofficially – for more than two years, and reports now are that one of its largest investors, Standard General, is working with the investment firm Apollo Global Management to finance an acquisition of the media company.
If an investment/private equity firm owning media properties sounds vaguely familiar, that’s probably because of Alden Global Capital’s ownership of The Denver Post, among others. If you are a 9News employee, or someone who just values journalism, you can’t be comfortable with the idea that Apollo might do to TEGNA what Alden has done to the Post – bleed it to near death to maximize the return on investment.
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