Standard General said it filed a lawsuit asking a U.S. Appeals Court to order the Federal Communications Commission to reverse a decision by its Media Bureau to extend the review of its acquisition of Tegna and to instruct the commission to approve the deal.
Standard General agreed to buy Tegna last February and the regulatory review process has been unusually lengthy, stretching out more than a year. Most recently the FCC’s Media Bureau sent the review to an administrative judge for a hearing, which would not be completed until after Standard General’s financing expires on May 22, effectively killing the deal.
