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Tegna has basically ditched doing real news, has hire comedians as anchors, got rid of seasoned Journalists and replaced them with young and cheap kids fresh out of school, and they took many legacy stations and drove them right into the ground.

But, yesterday, Tegna’s board of directors issued a plea to shareholders to please not get rid of them.

Standard General’s Soohyung Kim is one of Tegna’s biggest shareholders and he wants seats on Tegna’s board and that is scaring the hell out of current Tegna board members.

They issued a letter to shareholders basically tearing down Kim and his past practices and claiming that they are doing a great job.

In the past 5 years, Tegna’s stock is down, from a high of over $20 a share to just $11.96 a share yesterday.

The company is the only one so far to force employees to take furloughs just weeks into the COVID-19 pandemic. They have replaced some anchors with comedians and using buyouts, got rid of longtime Journalists.

I have no clue what Soo Kim’s plans are? But, can he really do much worse?

Below is a portion of their letter to shareholders, if you want to read the full letter, go to this link: