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tegna

Byron Allen, the 1980s comedian-turned-media-mogul, aims to acquire Tegna Inc in an $8 billion deal. The news comes months after it was reported that Allen’s Weather Channel’s business had taken a hit due to the pandemic as the TV advertising dried up, leading to piling debt load. Tegna, formerly owned by Gannett Co Inc, is a chain of 64 TV and radio stations that span 50 markets across the U.S. The deal could significantly boost Allen Media Group, which has amassed 33 local TV network affiliate stations. Allen — who came to