The Tegna Deal is Likely Dead

It appears that the Tegna sale to Standard General is a dead deal.

Yesterday, the FCC’s Administrative Law Judge affirmed a Media Bureau decision to issue a Hearing Designation Order to consider concerns raised by the proposed acquisition.

Standard General, TEGNA and Cox Media Group, which is majority-owned by Apollo Global Management would have taken a significant minority stake in a “new TEGNA,” wanted the Administrative Law Judge to certify to the full Commission an immediate application for review of the Order.

That isn’t going to happen, and it is more than likely that the Tegna deal is dead in the water.

My condolences to the employees at Tegna stations.