UPDATE: Standard General blasted the FCC’s decision to send its proposed acquisition of Tegna to an administrative law judge, accusing the agency of trying to scuttle the deal by delaying it.…
Media Group, is involved in financing the deal. Following the close of the transaction, Cox will acquire Tegna stations in Austin , Dallas and Houston from Standard General. PREVIOUSLY, Feb. 24:
Rosenworcel said that “the additional review will allow us to make a more informed assessment on whether proposed safeguards are sufficient to protect the public interest, and we will take the time needed to address these critical questions.”, an affiliate of Standard General would purchase Tegna, which has 64 stations in 51 markets. Apollo Global Management, owner of Cox Media Group, is involved in financing the deal.
The chief of the FCC’s media bureau wrote in the order designating the hearing that there were “significant concerns that warrant further investigation. In particular, substantial and material questions remain as to both the potential impact, and possible harm, to consumers through higher retransmission consent fees, and the effect on localism through potential reductions in local jobs.”Last fall, then-House Speaker Nancy Pelosi weighed in on the deal, joining with Rep.
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