Nancy Pelosi Tells FCC She Has Concerns Over Local News Impact With Sale Of Tegna To Standard General
deadline.comStandard General’s proposed acquisition of Tegna is facing new scrutiny from Capitol Hill, as House Speaker Nancy Pelosi and House Commerce Committee Frank Pallone fired off a letter to the FCC expressing their concerns about the transaction.
Standard General, however, said that the lawmakers were being misled by opponents of the transaction, who include public interest groups and the NewsGuild CWA, and that Pelosi and Pallone’s letter was applying “improper pressure” to the FCC.
Under the terms of the transaction, 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. Following the close of the transaction, Cox will acquire Tegna stations in Austin (KVUE), Dallas (WFAA and KMPX) and Houston (KHOU and KTBU) from Standard General.
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