- Tegna ( NYSE: TGNA ) ticked into negative territor y after reports that the White House plans to renominate Gigi Sohn as a commissioner for the Federal Communications Commission.
- The WSJ earlier reported that that the White House would renominate Sohn for the FCC job and Bloomberg also cited an unidentified official confirming the news.
- Investors in Tegna ( TGNA ), which is reportedly nearing potential regulatory approval for its sale to Standard General, may see the Sohn news as negative as there's an expectation that Sohn, a Democratic, would vote against the Standard General deal.
- Late last month the FCC asked for comments about Standard General's latest proposal in its planned takeover of the TV broadcaster Tegna ( TGNA ). Dealreporter also said last month that Standard General's offer was likely to resolve the FCC's and the Dept. of Justice's concerns about the combination.
- Tegna ( TGNA ) in late February agreed to be sold to Standard General for $24/share in cash .
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Tegna slips on reports White House to renominate Gigi Sohn for FCC