Tegna’s Premion Buys Octillion Media To Expand CTV Advertising Capabilities

Tegna said its Premion over-the-top advertising unit has acquired Octillion Media, which runs a demand side platform focused on connected TV advertising.

The deal will boost Premion’s CTV ad capabilities, the companies said.

“Octillion is precisely the type of smart bolt-on acquisition we have long considered to accelerate our already successful, organically-grown Premion business,” Tegna CEO Dave Lougee said.

Financial terms were not disclosed, but Tegna said the cost of the acquisition will be covered with available cash on hand.  The transaction is expected to be accretive in terms of free cash flow and earnings per share within 12 months and is not expected to have a material impact on Tegna’s 2024 financial results, the company said.

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