Standard General and Tegna, MB Docket 22-162

TEGNA Inc. (Tegna), and SCGI Holdings III LLC, an affiliate of Standard General L.P. (SCGI and Standard General), have filed applications to transfer control of Tegna and the licenses of 64 full-power television stations and two full-power radio stations from Tegna’s current shareholders to SCGI. In addition, for the purpose of Standard General meeting various FCC ownership limitations, Standard General and CMG Media Corporation (Cox), which is controlled by Apollo Global Management, Inc. (Apollo), seek to transfer control of Apollo’s full-power television station in Boston (WFXT) to Standard General, and in return transfer four of Standard General’s full-power television stations and assign four of Tegna’s full-power television stations licenses in Texas to Apollo. Finally, Standard General intends to sell nonvoting preferred shares in Tegna to various affiliates of Apollo; as a result, Tegna will not be able to take certain corporate actions without the approval of the majority of those preferred shares. The Applicants state that Apollo will not have an attributable interest in Tegna. If the proposed transaction is approved, Tegna will control the licenses of 61 full-power television stations and two radio stations across 50 television markets, while Apollo/Cox will control the licenses of 31 full-power television stations in 26 markets and 54 radio stations in 11 radio markets.