Standard General Says FCC 'Moved to Kill' Tegna Deal Without Due Process
15 April 2023 - 9:06AM
Dow Jones News
By Josh Beckerman
Standard General LLP criticized the Federal Communications
Commission review process for its planned purchase of broadcaster
Tegna Inc. and filed a reply brief in the U.S. Court of Appeals for
the District of Columbia Circuit.
Standard General said the FCC "consistently refused to engage
with the transaction parties" and "deliberately moved to kill the
transaction without due process and without ever expressing any
concerns so that they might be addressed." It said the agency
"repeatedly declined Standard General's offers to meet."
The FCC didn't immediately return a request for comment late
Friday. In February, the agency said its media bureau issued a
hearing designation order to look into the deal. The FCC said the
order focused on concerns "related to how the proposed transaction
could artificially raise prices for consumers and result in job
losses."
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
April 14, 2023 18:51 ET (22:51 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
TEGNA (NYSE:TGNA)
Historical Stock Chart
From Apr 2024 to May 2024
TEGNA (NYSE:TGNA)
Historical Stock Chart
From May 2023 to May 2024