The long-awaited approval of a privatization effort that would bring TEGNA ownership under the control of Standard General, with a large minority non-voting stake in the television station owner held by Cox Media Group’s majority owner, Apollo Global Management, has not come.
Instead, the FCC has issued a Hearing Designation Order — an ominous sign for Soo Kim, who heads Standard General, and the woman who has been planning to assume the role of TEGNA CEO from Dave Lougee, Deb McDermott.
