IlluminateIC Staff Writers
Pelosi, Pallone raise concerns about $5.4B acquisition of Tegna
Lawmakers send letter to FCC Chairwoman Jessica Rosenworcel expressing concerns over merger's impact on local journalism, consumer prices.
By: Illuminate IC Staff Writers
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WASHINGTON—House Speaker Nancy Pelosi and Energy and Commerce Committee Chairman Frank Pallone, Jr. have expressed “serious concerns” about the proposed merger of Standard General with Tegna to FCC Chairwoman Jessica Rosenworcel
Tegna, which manages 64 stations across 51 domestic markets, agreed in February to be acquired by Standard General for $8.6 billion including debt. The merger is currently being reviewed by the FCC and has faced a number of objections from lawmakers and public advocates and unions.
In a letter to the chairwoman, the lawmakers pointed to the accelerating consolidation of local news outlets, and asked the FCC to closely review the pending transaction to ensure that it is in the public interest and promotes the FCC’s values of localism, competition and diversity on the airwaves.
More details from Broadcasting & Cable below.