WASHINGTON, D.C.—The FCC administrative judge overseeing the review of Standard General’s proposed acquisition of Tegna has decided to suspend the proceeding because the review would likely continue past the May 22 deadline for completing the deal.
The acquisition was first proposed over a year ago and the financial agreements needed to fund it require that the deal be completed by May 22. Given economic changes in the last year that increased interest rates and made borrowing more difficult, Standard General has said that delays past May 22 would kill the deal.
