- The Federal Communications Commission asked for comments about Standard General's latest proposal in its planned takeover of the TV broadcaster Tegna ( NYSE: TGNA ).
- The FCC is seeking comments on the latest offer from Standard General by Jan. 13 with reply comments due Jan. 20, according to an FCC filing.
- The FCC request comes after Standard General last Friday said it waived some contractual rights in its planned acquisition of Tegna ( TGNA ) to help appease regulator concerns.
- Dealreporter on Tuesday said that Standard General's offer was likely to resolve the FCC's and the Dept. of Justice's concerns about the combination. Under the offer, Standard General is giving cable companies and others the ability to negotiate retransmission consent agreements.
- The parties are expecting that the regulators will approve the deal in January, according to Dealreporter. Tegna ticked up 1.2% in trading on Friday.
- Tegna ( TGNA ) in late February agreed to be sold to Standard General for $24/share in cas h.
For further details see:
Standard Genera deal for Tegna gets request for comments from FCC