TEGNA Deal Won’t Close in 2022 Despite More Concessions

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Updated at 8:45am Eastern


Standard General, the private equity firm that controls Standard Media Group and is seeking regulatory approval to purchase TEGNA — a deal that would see Cox Media Group controlling party Apollo Global Management take a large non-voting minority stake in TEGNA, has once again called on federal regulatory authorities to approve its still-pending deal.

Standard General, headed by Soohyung Kim, and TEGNA expected the deal to close by the end of 2022. In the business world, that’s five days away. And, it is now known that is not happening.

With the latest concessions presented to the FCC on Friday afternoon, as most of Washington, D.C., had left town for the Christmas holiday, the actions only prompted the Media Bureau, led by Holly Saurer, to open a new comment period to allow the public to chime in on Kim’s new offerings.

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