- Tegna ( NYSE: TGNA ) rose 2.6% amid a report that the sale to Standard General may be moving closer to approval and a potential deal close this year.
- The Dept. of Justice staff is said to have concluded its review of the deal, according to a Dealreporter item, which cited sources familiar.
- The article also explained that statements by House Speaker Nancy Pelosi (D-CA) earlier this month expressing her concerns about the combination may have been problematic. Pelosi's may have erred in her statements and is expected to tell the FCC, according to the report.
- Standard General took issue with the Pelosi comments at the time. Standard General told Seeking Alpha in a statement last week that “the transaction remains on track to close in the second half of 2022."
- Tegna ( TGNA ) in late February agreed to be sold to Standard General and Apollo Global ( APO ) for $24/share in cas h.
- Earlier this month CTFN reported that the Federal Communications Commission's review of its planned sale to Standard General was "going smoothly."
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Tegna gains on report that Standard General deal may be getting closer to approval