- TV broadcaster Tegna ( NYSE: TGNA ) rose 1.2% o n a report that Team Telecom may approve the sale to Standard General and Apollo Global ( APO ) as soon as this week.
- Team Telecom, which is said to be in the final stages of its review, will likely send a letter to the Federal Communications Commission saying they have no issues with the transaction, according to a CTFN report.
- The FCC isn't expect to issue a final public order until the Dept. of Justice finishes its probe of the deal , the CTFN report added.
- The latest update comes after a report on Friday that the DOJ was studying certain aspects of the transaction, which sent the shares down 2.4%.
- Dealreporter last month said that the Team Telecom review of the deal was expected to be completed by the end of the year. The item explained that Team Telecom assists the FCC in its review of telecom license applications when foreign persons have ownership stakes.
- Tegna ( TGNA ) in late February agreed to be sold to Standard General and Apollo Global ( APO ) for $24/share in cas h.
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Tegna gains on report Team Telecom may approve sale as early as this week