Mediagazer: Private equity firms Apollo and Standard General buy local TV giant Tegna, which owns 64 stations in 51 markets, for $5.4B, giving it a ~$8.6B valuation (Alex Weprin/The Hollywood Reporter)

4:05 PM ET, February 22, 2022

Top News:

Private equity firms Apollo and Standard General buy local TV giant Tegna, which owns 64 stations in 51 markets, for $5.4B, giving it a ~$8.6B valuation — Standard General and Apollo will pay $24 share for the company, which owns 64 stations in 51 markets.

Discussion: TEGNA, insideradio.com, Bloomberg, Insider, New York Post, The Streamable, Wall Street Journal, Light Reading, Deadline, MediaPost, TVSpy, Adweek, Cord Cutters News, @burnettgracem, @amandamatwell, @brianstelter, @johncolucci and @melissakxly4

Associated Press:

NBC's decision to spend $7.75B on Olympics rights through 2032 looks shaky after Beijing, a buzz-free, hermetically sealed event, saw viewers staying away — NEW YORK (AP) — There were many reasons to think NBC made a savvy business deal in 2014 when it locked up the American media rights …

Helen Davidson / The Guardian:

Foreign Correspondents' Club of China criticizes reporting conditions at the Winter Olympics, saying reporters were tailed and manhandled despite IOC assurances — Foreign Correspondents' Club of China says reporters tailed and manhandled by security despite assurances from Games officials

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Katie Robertson / New York Times:

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The Atlantic:

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James Fallows / Breaking the News:

After Dean Baquet dismissed criticism from “unnuanced voices on Twitter”, The New York Times urgently needs to re-hire a public editor to avoid future missteps — For the New York Times, that means a public editor. — This post started out several days ago as a follow-up to …

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Elsa Keslassy / Variety:

Netflix signs a three-year deal to invest 4% of its annual French revenue, at least €40M, in French and European films that will be released in French theaters — Netflix has signed a three-year agreement with French film guilds to invest a minimum of €40 million ($45 million) …

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Timothy McLaughlin / The Atlantic:

Profile of Ronson Chan, chairman of the Hong Kong Journalists Association and an editor of Stand News, which closed after two editors were charged with sedition — In the summer of 2019, Ronson Chan, then an editor for the independent news outlet Stand News, took a delayed honeymoon to Germany with his wife.

Discussion: @tmclaughlin3, @stand_with_hk, @jeffreygoldberg, @tmclaughlin3 and @theatlantic

Tali Arbel / Associated Press:

Howard University receives a $2M donation to digitize its Black Press Archives, which date back to the 1970s and contain more than 2,000 newspaper titles — Howard University has received a $2 million donation to digitize a major collection of Black newspaper archives in hopes of making …

Discussion: @alexalisitza

Emily Atkin / HEATED:

Emily Atkin, who launched climate newsletter Heated with a $20K Substack advance in 2019, says the newsletter is going on hiatus as she takes a digital break — Why HEATED is going on temporary hiatus. — I've been thinking a lot lately about resilience: the ability to remain strong in the face of difficulties.

Discussion: @emorwee, @emorwee and @annehelen

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