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.

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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.

About

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.

Standard General's Acquisition of TEGNA

40,000

Increase in local news hours incoming leaders Soo Kim and Deb McDermott have brought to local television stations under their leadership.

20+

Incoming CEO Deb McDermott’s years of experience leading broadcast groups.

300%

Increase of minority-owned or controlled commercial full-power television stations.

Competition

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.

diversity

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.

experience

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.

Jobs

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.

Read More About the Broad Support for the Acquisition

Frequently
Asked
Questions

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  • This transaction will create the largest minority-owned and female-led TV broadcasting company in U.S. history.
  • The transaction will increase minority ownership of commercial TV stations by almost 300%, from 24 to 85.
  • Half of the post-transaction TEGNA board members will be minority individuals and more than half will be women.
  • Standard General and new CEO Deb McDermott have a track record of operating and improving TV stations.
  • Deb McDermott has 40 years of broadcast experience, 20 years of which include leading broadcast groups, and 12 of which have been spent working with Standard General and its founder, Soo Kim.
  • Standard General pulled Young Broadcasting out of bankruptcy in 2010 and proceeded to invest tens of millions of dollars in its 14 television stations over a period of just 18 months. Young Broadcasting and subsequently Media General added thousands of hours of local news under the leadership of Mr. Kim and Ms. McDermott. When the Media General stations were sold to Nexstar in 2017, they were annually airing more than 11,500 hours of news above and beyond what they were airing prior to Mr. Kim’s and Ms. McDermott’s involvement.
  • No. Standard General has every intention of growing newsgathering operations at local stations and is backing this up with a voluntary commitment to the FCC to maintain current newsroom staffing for a minimum of two years.
  • Standard General’s track record is clear. Newsroom staffing reductions are not consistent with how it does business. It increased news staffing by 28% across its stations even during the pandemic when many broadcasters were cutting staff.

Standard General – TEGNA By the Numbers

  • 300% – Increase of minority-owned or controlled commercial full-power television stations
  • 20+ – Years of experience leading broadcasting groups for incoming CEO Deb McDermott
  • 40,000 – Increase in local news hours incoming leaders Soo Kim and Deb McDermott have brought to local television stations under their leadership
  • 24 to 85 – Increase in the number of minority-owned commercial full-power television stations in the U.S.
  • 4 to 65 – Increase in the number of stations that are Asian American-owned or controlled