FCC Media Bureau Designates Standard/Tegna for Hearing

The FCC Media Bureau designated the $8.6 billion proposed Standard General/Tegna deal for a hearing, said a release Friday. “The Hearing Designation Order focuses specifically on material concerns in the record related to how the proposed transaction could artificially raise prices for consumers and result in job losses,” said the release. Designating a deal for hearing is widely perceived as a death knell for the transaction because hearing proceedings take months or years and have uncertain outcomes. The FCC’s HDO for Sinclair’s proposed buy of Tribune in 2018 led to that deal’s dissolution shortly after. “As part of the FCC’s mission, we are responsible for determining whether grant of the applications constituting this transaction serves the public interest,” said Chairwoman Jessica Rosenworcel in the release. “That’s why we’re asking for closer review to ensure that this transaction does not anti-competitively raise prices or put jobs in local newsrooms at risk,” she said. Standard didn't comment, but the companies said this week they expected the deal to close within two months.