Bloomberg: Pelosi Urges FCC to Scrutinize $5.4 Billion Tegna Takeover

House Speaker Nancy Pelosi urged regulators to closely scrutinize Standard General LP’s proposed
purchase of broadcaster Tegna Inc., citing concerns the transaction could result in less local news,
journalism job cuts and higher prices for consumers.

“This transaction deserves your full and complete attention,” Pelosi said in a letter Thursday to
Federal Communications Commission Chairwoman Jessica Rosenworcel, who is leading the
agency’s review of the $5.4 billion deal. Representative Frank Pallone, chairman of the House Energy
and Commerce Committee, also signed the letter.

The deal needs approval from the FCC, which is in a two-to-two partisan split as a nominee who
would give Democrats a majority awaits Senate confirmation. Rosenworcel, a Democrat, was
selected by President Joe Biden, whose administration has criticized mergers that lead to “excessive
concentration.” …

Opponents of the Tegna deal have told the FCC the transaction could raise prices for cable-TV
distributors and lead to substantial job cuts. Standard General has said it would enhance news
coverage, and that a competitive market would keep prices in check. Tegna owns 64 television
stations in cities including Dallas, New Orleans, Cleveland and Washington.

Democrats Pelosi and Pallone asked the FCC “to fully examine the concerns raised by public
comments — and shared by many of our colleagues in Congress.”

The FCC is reviewing the letter, said Will Wiquist, a commission spokesperson. Last month, the
commission told Standard General to produce more documents about the deal.

“It’s hard to see the FCC approving this deal, given the evidence against it and given that key
members of Congress have voiced their concern,” Yosef Getachew, Media & Democracy program
director at the advocacy group Common Cause, said in an interview. Common Cause has asked the
FCC to deny the merger.