Standard General Commits to News Staff Levels to FCC for Tegna Deal
December 23 2022 - 2:53PM
Dow Jones News
By Denny Jacob
Standard General L.P. on Friday said it issued fresh commitments
to regulators related to its proposed acquisition of broadcaster
Tegna Inc.
The capital management firm in a letter to the Federal
Communications Commission on Thursday said it committed to maintain
current newsroom staffing for a minimum of two years, as well as
volunteering to report any newsroom layoffs that might occur after
that time period to the telecom regulator.
Standard General in a letter to the FCC on Friday said it,
Apollo and Cox Media Group agreed to transaction conditions
requested by the NCTA, a trade association for the U.S. broadband
and pay television industries. They committed not to enter into
joint sales, shared services or local marketing agreements between
Tegna stations and Cox Media Group stations after closing, as well
as committing not to engage in joint or coordinated retransmission
agreement negotiations, the firm said.
The latest commitments add to Standard General's commitment last
Friday to waive certain contractual rights it would have had as a
result of the deal.
"We have been clear from the beginning that we intend to grow,
not shrink the newsgathering operations at our local stations;
because we believe in local broadcasting and investing in the
industry's evolution will help preserve and strengthen it,"
Standard General said in a statement.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
December 23, 2022 14:38 ET (19:38 GMT)
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