Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

It's good to be with you on this Tuesday, August 19th. I'm Julie Morgan. A $2 billion stake in Intel,

TV giants weigh a merger, and Crocs kicks off with the NFL.

Intel is up 5.4% pre-market after announcing a definitive securities purchase agreement in which SoftBank will make a $2 billion investment in Intel Common Stock, paying $23 a share.

With an equity stake of slightly less than 2%, the deal would put SoftBank at number

six on the list of largest investors in Intel. Writers reported that the Japanese firm will not

seek a board seat or commit to buying Intel's chips. The chairman and CEO of SoftBank said this

strategic investment reflects their belief that advanced

semiconductor manufacturing and supply will further expand in the U.S. with Intel playing a critical

role. Bloomberg reported earlier on Monday that the U.S. government is in talks to take a 10% stake

in Intel.

U.S. television station owner Sinclair has reportedly offered to combine its broadcast TV business with rival operator Tegna.

A person familiar with the talks told Reuters that Tegna is currently in advanced talks on a potential sale to Nextar Media Group.

The report said any potential merger would be difficult to close because of Sinclair and Tegna's combined debt load.

The Wall Street Journal, which first reported the news, said that the deal would value Tegna's

shares at around 25 to 30 bucks a share.

Sinclair owns, operates, and or provides services to 178 television stations in 81 markets,

affiliated with all major broadcast networks.

Tegna, meanwhile, is no stranger to takeovers.

Standard General and private equity firm Apollo Global had a deal in 2022 to purchase

Tegna for $24 a share, though regulatory delays by the Federal Communications Commission

ultimately scuttled the deal in 2023.

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