Common Cause Files Petition to Deny Proposed Apollo Global Management-Standard General-Tegna Merger
On Wednesday, Common Cause, joined by UCC Media Justice, filed a petition with the Federal Communications Commission (FCC) asking the agency to deny the proposed $8.6 billion merger of Apollo Global Management, Standard General L.P., and Tegna Inc. If approved, Standard General would acquire Tegna’s 61 full power television stations and two radio stations across 50 markets. Apollo will control the licenses of 31 full-power television stations in 26 markets and 54 radio stations in 11 radio markets.
The petition urges the Commission to deny the proposed transaction on the grounds that it would enlarge two firms – Standard General and Apollo – who have already swallowed smaller broadcast groups – leading to greater consolidation in the marketplace, leading to reporter layoffs, price hikes, and national harms related to greater media consolidation.