On Tuesday, March 28, Standard General sued the FCC in the U.S. Court of Appeals for the District of Columbia Circuit. In short, it wanted the judicial body’s intervention in keeping its TEGNA privatization effort from disintegrating — or, months from now, getting a denial or approval decision from the Presiding Judge asked to review the acquisition under the leadership of a Commission Administrative Law Judge.
A 57-page Mandamus Request was submitted with the court. On Friday, it was denied.
This puts the proposed TEGNA transaction, which also sees Cox Media Group majority owner Apollo Global Management take on a significant non-voting majority stake in a “new TEGNA,” in serious peril.
