The other day, FTVLive told you that Tegna is worried that they might be ripe for a takeover.

Soo Kim’s Standard General wants a seat on the board and many inside Tegna think his hedge fund might attempt a hostile takeover.

Reuters reports that another large investor in Tegna is also urging the company to pursue a merger or sale.

The report says that hedge fund HG Vora Capital Management, which owns about 4% of Tegna’s stock, is the third investor to push for changes at Tegna. Standard General has laid the groundwork for a proxy contest and Donerail also wants changes to be made.

Over the last five years, Tegna’s stock price has climbed 14%, compared with a 65% gain for the S&P 500 index.

Tegna is sure to have a very good 2020 with all the campaign money that will be coming in.

The company does not want to sell or merge and they issued a very loooooooong letter to its shareholders as to why they don’t want that to happen.