TEGNA says Standard General deal officially dead
Television broadcaster TEGNA says its pending deal to be acquired by Standard General is officially dead.
Television broadcaster TEGNA says its pending deal to be acquired by Standard General is officially dead.
The judge’s decision will effectively kill Standard General’s deal to acquire TEGNA.
A federal appeals court denied a petition from Standard General that would have forced the FCC to vote on its proposed merger with broadcaster TEGNA. [Fierce Video]
The concession comes as Standard General’s deal to acquire TEGNA appears to be falling apart.
Standard General has filed a lawsuit against the FCC for referring its TEGNA deal to an administrative hearing.
The FCC’s administrative law judge has upheld an order to put TEGNA’s merger with Standard General to a hearing.
TEGNA missed revenue estimates for the final three months of 2022, according to the company’s quarterly earnings report released on Monday.
Standard Media says its four local broadcast stations have been dropped from satellite broadcaster Dish Network.
The FCC demanded an explanation as to how Standard General’s acquisition of TEGNA would serve the public interest.