Wall Street has grown accustomed to getting its way in Washington. So when a pair of Wall Street funds, Standard General and Apollo Global Management, proposed taking over TEGNA, the nation's second-largest local broadcast station owner, they thought it would be smooth sailing.
However, the Federal Communications Commission, under the leadership of Chairwoman Jessica Rosenworcel, takes its responsibility to protect the public interest very seriously. And after reviewing the transaction, the FCC's Media Bureau decided this deal deserved a closer look.
