It’s been nearly a year since Standard General first reached a deal to buy local TV broadcaster Tegna, and still it hasn’t closed. But a resolution to the $5.4 billion deal could finally be on the horizon.
Why it matters: It’s one of the largest deals in the local broadcasting space, and its outcome could set the tone for the future of an industry that’s been upended by the digital transformation.
Driving the news: The FCC, which has already blown past its typical 180-day period for dissenters to make public comments, has set a Jan. 20 deadline. That means a decision for the still-deadlocked 2-2 commission will likely come sometime next month.
State of play: The deal has gotten stiff pushback from unions, rival cable operators and lawmakers over fears that consolidation will further hamper competition.
Axios | by Tim Baysinger