Why Shares of Tegna Jumped Almost 20% This Week

Shares of TEGNA (NYSE: TGNA) -- the media company previously known as Gannett -- have climbed nearly 20% so far this week as of Thursday afternoon. The move comes on rumors that the company is entertaining offers for a buyout.

The information from Dealreporter claims that not only is a deal being discussed, but a deadline has been set for Sept. 20. Although it's a fast turnaround, a buyout isn't unexpected.

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Source Fool.com