The FCC Media Bureau’s unprecedented and indefensible move to scuttle the Standard General-TEGNA transaction is jeopardizing an historic strengthening of local news and expansion of diversity in ownership of local broadcast television stations, despite the transaction having widespread support and complying with all FCC rules.
This transaction is entitled to an up-or-down vote of the FCC Commissioners.
Strengthening Local Broadcasting
The vision for the new company is to invest in and grow a state-of-the-art local broadcasting company that provides trusted local news coverage and programming to communities across America.
Creating a diverse and dynamic broadcast company will help secure the future of local television and help the industry evolve as it faces unprecedented challenges.
Standard General’s Acquisition of TEGNA
In February 2022, Standard General announced plans to buy TEGNA, an innovative media company that currently owns television stations in 51 U.S. markets. The new company, under experienced leaders Soo Kim and Deb McDermott, will build a strong foundation for continued growth in all aspects of broadcasting operations – the technology, news programming and, most importantly, people.
Increase in local news hours incoming leaders Soo Kim and Deb McDermott have brought to local television stations under their leadership.
Incoming CEO Deb McDermott’s years of experience leading broadcast groups.
Increase of minority-owned or controlled commercial full-power television stations.
The Standard General-TEGNA transaction will enhance competition among local television broadcasters in every market in which the new company will operate, ensuring viewers and advertisers will continue to benefit from local TV.
The transaction will increase opportunities for minority and female journalists and other media professionals. Standard General is committed to increasing diversity in news reporting to be more reflective of the increasingly diverse U.S. population.
Standard General has over a decade of experience as a leader in the television broadcast business and a proven track record of growing local television broadcasting companies.
Standard General is committed to investing in local broadcasting and preserving jobs. In fact, the company has committed to not reduce newsroom staff at any of TEGNA’s local stations for at least two years.
widespread support For the Transaction
Dozens of letters have been filed in the FCC docket in support of the transaction, underscoring its importance to the future of local broadcasting, coming from former employees, labor unions, civil rights groups that have personally observed Soo Kim’s commitment to diversity and inclusion, women in tech leadership, broadcasters, and other public interest groups seeking to advance diversity in broadcasting.