NEW YORK--Over the past several months, Standard General has issued reams of press releases touting support from a variety of legislators and industry trade, labor and civil rights groups approving the company’s proposed $8.6B acquisition of Tegna made nearly a year ago. Now the company has launched a website where interested parties can view the details of the deal and all supporting statements.
Standard General says the merger “will yield significant public interest benefits” by increasing minority ownership of broadcast stations and “diversity of viewpoints,” while opponents argue that the consolidation will negatively impact local journalism and give the combined company too much power over retransmission negotiations.
Currently the FCC is seeking public comment on Standard General’s promises to limit agreements with other broadcast groups that could increase the retransmission fees broadcast groups negotiate with MVPDs.
“We thank all those who have publicly voiced their support for our proposed acquisition of TEGNA,” said Soo Kim, Founding Partner of Standard General. “Many have pointed to our proven track record of enhancing stations’ service to their local communities, increasing local news content, and investing in the resources stations need to compete successfully. We are confident that the acquisition of TEGNA will open a new chapter in American media distribution, marked by an expansion in representation, diversity, and innovation.”
