The pending acquisition of TEGNA by Standard General would create the nation’s largest minority owned, women-led broadcasting company. Tegna operates 64 television stations in 51 US markets. Spearheaded by Soo Kim, a long-term investor in the broadcast and local news industry, and incoming CEO Deb McDermott, a 20-year television industry veteran, Standard General intends to grow and invest in TEGNA’s operations to become a leading broadcast television company. Though accepted by shareholders, the deal requires the approval of the Federal Communications Commission (FCC). The deal’s emergence demonstrates the impact of internet disruption to traditional media and of FCC legacy regulations.
Forbes | by Roslyn Layton