TYSONS, Va.—Tegna has announced that Tegna’s merger agreement with an affiliate of Standard General L.P. has been terminated and that it is planning a $300 million accelerated share repurchase (“ASR”) program and a 20 percent increase in its quarterly dividend.
The announcement came as the financial agreements needed to fund the deal expired on May 22 without Standard General obtaining approval from the FCC to complete the deal.
