Tegna ( NYSE: TGNA ) rose 1.8% on a report that there's growing optimism that Standard General's planned purchase may be completed now that HSR period has expired.
The parties appear optimistic that the transaction will receive approval from the Federal Communications Commission, according to a Dealreporter item, which cited several sources familiar.
The latest report comes after Standard General on Tuesday said that it expected the Tegna ( TGNA ) deal to close in March or April subject to FCC approval and that all waiting periods for the federal antitrust regulator had expired. Tegna shares jumped 6% on Wednesday after the disclosure on Tuesday.
One source told Dealreporter that if the FCC had major concerns about the deal than those issues would have been captured by the Dept. of Justice.
The Dealreporter item comes after CTFN on Thursday reported the the merging parties haven't received any definitive signals from the DOJ's division. The DOJ hasn't asked any questions of the parties in the two weeks, which is a change from the more consistent information seeking the antitrust regulator had engaged in during the process previously.
The companies expects that the FCC's Media Bureau will ultimately issue a decision on the matter, according to CTFN.
Last month Standard General's Soo Kim said he's optimistic that talks with regulators over the planned acquisition of Tegna ( TGNA ) were closer to the end than the beginning.
Tegna ( TGNA ) in late February of last year agreed to be sold to Standard General for $24/share .
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Tegna gains on report that Standard General deal close may be more likely