Two days ago, Standard General, the New York-based hedge fund led by Soohyung Kim, filed suit against the FCC in a Washington, D.C., Federal Appeals Court as part of its efforts to keep its TEGNA privatization effort on track.
That hasn’t stopped the Commission in any way from moving forward with its plans to have an Administrative Law Judge answer questions in a lengthy proceeding brought forth about the transaction from the Media Bureau.
The Commission late Wednesday released its Initial Case Order in regard to the Hearing Designation Order issued to Standard General, TEGNA and Cox Media Group on February 24.
As directed by that order, a timely Notice of Appearance was filed by Standard General, TEGNA, Cox Media Group (owing to its majority ownership by Apollo Global Management, which would be a significant minority shareholder in a new TEGNA), and three groups that have tried to block the transaction from happening.
They are The News Guild-CWA and National Association of Broadcast Employees and Technicians-CWA; United Church of Christ Media Justice Ministry; and Common Cause.
The Chief of the FCC’s Enforcement Bureau was made a party to the proceeding. But, he was not required to file an appearance.
As e-mail addresses were not fully submitted for each party, the FCC now requests this by April 19.
Then, an all-important initial status conference would commence. This is scheduled for Wednesday, April 26 at 10am at the FCC’s L Street N.E. headquarters in Washington, D.C.
On or before April 19, each of the parties are asked to submit a proposed schedule for the case, a description of the type of discovery anticipated, if any, and description of expected pre-hearing motions, if appropriate.
The proposed schedule is to include, at a minimum, the following dates and deadlines:
Deadline for Completion of Discovery
Deadline to Request Hearing on a Written Record
Deadline to File Motion for Summary Decision
Deadline for Exchange of Exhibits, Witness Lists, and Written Direct Testimony
Deadline for Exchange of Witness Lists for Cross-Examination
Deadlines for Objections to Exhibits and Written Testimony and replies thereto
Pre-Hearing Motions Day6
Hearing Start Date
Anticipated Length of Hearing
Deadlines to file Proposed Findings of Fact and Conclusions of Law and replies thereto
The notice from the FCC arrives on word that the D.C. Court of Appeals is accelerating its own timetable as it considers the Standard General lawsuit against the Commission that seeks to put a stop to the hearing altogether.
This is essential for Standard General, as the expiry date for the deal’s financing is May 22.
According to analysts at New Street Research, the court on Tuesday issued an order that asls the FCC and supporters of its action to file its brief by 5pm yesterday (3/29). Standard General had until Noon Eastern today.
