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The Latest Breaking News from Standard General

Standard General Makes Additional Commitments to Unions in Tegna Deal

Promises TNG and NABET additional job protections, no layoffs and increased news budgets at Tegna stations

TV Tech

Standard General Files Brief Asking Court To Force FCC To Rule on Tegna Deal

Broadcasters want decision by April 28, before financing expires May 22

Broadcasting & Cable

Standard General Urges Appeals Court to Force FCC Vote on Tegna Deal

The court must “compel the FCC to follow its own procedural norms by putting the deal to a vote,” said Standard General’s Soo Kim

TV Tech

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Unions Oppose Latest Standard General-Tegna Legal Move

Merger opponents say writ is last-ditch effort based on artificial deadline

Multichannel News

GOP Lawmakers Criticize FCC Handling of Tegna Deal

Senator Cruz and Representative McMorris Rodgers said FCC’s decisions “raised questions about the Commission’s fairness”

TV Tech

O’Rielly: FCC Shows Horrific Treatment of Standard General-Tegna Deal

Former commissioner says agency’s hearing designation order skews due process

Broadcasting & Cable

One of Standard General’s Appeals of FCC’s Media Bureau Action Is Dismissed

Effort to make FCC approve license transfer to be decided after April 14

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Standard General, CMG Blast FCC for Delays in Approving Tegna Deal

The FCC has made “no attempt to expedite the process,” lawyers claimed in a filing with the D.C. Court of Appeals

TV Tech

Unions Oppose Expedited Court Review of FCC’s Standard General-Tegna Decision

Say it is not an appealable final order

Multichannel News

Democratic Adviser Cedric Richmond Rips Into FCC’s Standard General-Tegna Order

Says regulator is caving to special interests and out of step with Biden diversity efforts

Broadcasting & Cable

Tegna Deal: Standard General Files Lawsuit Against FCC

Wants the court to review Media Bureau decision that could kill its $8.6B acquisition of Tegna

TV Tech

Standard General Asks Court To Review FCC Media Bureau’s Move To Kill Tegna Deal

Financing for $8.6 billion merger expires May 22

Broadcasting & Cable

Standard General’s Soo Kim: FCC Hearing Designation Is Tegna Deal ‘Kill Shot’

Managing partner hammers commission over ‘evading’ vote

Broadcasting & Cable

Standard General Makes Formal Appeal to FCC on Tegna Deal

Claims Media Bureau’s hearing order will torpedo largest minority-owned, female-led TV company

Multichannel News

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Chicago Tribune

Commentary: Due process denied: FCC Media Bureau kills diverse media ownership

I believe in the power of local news. Strengthening American democracy depends on more engaged and informed citizens at the local level. But in today’s fractured media environment, there are fewer credible options for consumers to turn to for their news. Local broadcast news can help fill this void.

StockNews.com

2 Entertainment Stocks to Buy This Week and 1 to Sell

The entertainment industry has been evolving quickly, thanks to growing technological advancements and pandemic-led behavioral changes. Hence, it could be wise to buy fundamentally sound entertainment stocks TEGNA (TGNA) and Lee Enterprises (LEE) to capitalize on the industry’s tailwinds. However, given the macroeconomic headwinds, the struggling stock Warner Bros. (WBD)…

Benzinga

Tegna Tops Q1 Aided By AMS, Political Revenue; Margin Expands

TEGNA Inc (NYSE:TGNA) reported first-quarter FY22 revenue growth of 6.5% year-on-year to $774.1 million, beating the consensus of $772 million. A record AMS revenue and growth in political revenue drove the results. Subscription revenue of $391.7 million was up 1.3% Y/Y. AMS revenue was $354.5 million, up 9.8% Y/Y. Political revenue was up…

Chicago Tribune

Chicago rolls the dice on Bally’s. Hedge fund owner Soo Kim says the rebranded casino company will deliver

CHICAGO — When Mayor Lori Lightfoot named Bally’s the winner of a yearlong vetting process Thursday, it ended an intense competition that saw five proposals from four development teams narrowed down to one Chicago casino.

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Benzinga

Merger Arbitrage Mondays - Standard General Acquires Tegna For $8.6 billion Or $24 Per Share In Cash

Merger activity remained steady with five new deals announced, four deals completed and one deal terminated. Two of the five new deals announced were potential deals in the works. TEGNA Inc. (NYSE: TGNA)

Benzinga

Tegna Registers 17% Revenue Decline In Q4 Due To Lack Of Political Revenue

Tegna Inc (NYSE:TGNA) reported a fourth-quarter FY21 revenue decline of 17% year-on-year to $774.65 million, beating the consensus of $772.6 million. The decline was due to the absence of political revenue. Subscription revenue of $336 million was up 7% Y/Y. AMS revenue was $400 million, up 14% Y/Y. The non-GAAP EPS of $0.57…

Benzinga

Why Tegna Shares Are Trading Higher Today?

Standard General and Apollo Global Management Inc (NYSE:APO) agreed to acquire television broadcaster Tegna Inc (NYSE:TGNA). They will acquire Tegna in a transaction valued at $24 a share. The purchase price implied a premium of 39% on the unaffected closing share price on September 14, 2021, the last full trading day before media speculation about a…

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