- Broadcaster Tegna ( NYSE: TGNA ) quickly fell 2.6% on a report about the Justice Dept.'s review of the company's sale to Standard General and Apollo Global ( APO ).
- The DOJ is said to be looking at possible alleged coordination between Standard General and Apollo in their deal, according to traders, who cited a Capitol Forum report that's circulating.
- The latest item comes after Bloomberg last Thursday said the DOJ is evaluating whether Standard General's purchase may lead to higher cable prices.
- Dealreporter last Friday reported that the last time the DOJ requested documents from the parties was several months ago.
- Concerns about the deal raised by House Speaker Nancy Pelosi (D-CA) and Commerce Chairman Frank Pallone (D-NJ) last month appear to been addressed/resolved i n recent meetings , according to Dealreporter.
- 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 quickly drops on report about DOJ's review of Standard General sale