Standard General sends letter Elizabeth Warren on Tegna deal, requests meeting

Update 5:55pm on Jan. 14: Adds Regular Typical comment.

Conventional Normal sent a letter to Sen. Elizabeth Warren (D-MA) trying to get to meet concerning her reviews on the Tegna (NYSE:TGNA) deal.

The letter arrives just after Warren despatched a letter Wednesday to the Federal Communications Commission inquiring the agency to block Conventional General’s acquisition of Tegna. News of the letter despatched Tegna shares down 3.3% on Thursday and they ticked lessen .7% on Friday.

“We respect Sen. Warren’s concerns and are confident that by means of our binding commitments and the fundamentals of this transaction we have additional than addressed them,” Common General reported in a statement emailed to In search of Alpha. “This transaction will defend community newsroom positions throughout the nation, greatly enhance financial commitment in community tv broadcasting and newsgathering, and preserve competitors in the marketplace, when developing the nation’s biggest minority-owned, woman-led broadcast business.”

The Warren press will come after Typical Standard past month made available some therapies to the regulators such as waiving some certain contractual rights in an effort to appease regulators at the FCC and the Dept. of Justice.

Warren in the letter argued that the behavioral remedies “are historically ineffective and should give no convenience that these Wall Road corporations will not have interaction in anticompetitive procedures immediately after the deal is done.”

Information of the Normal Common letter to Warren was before described in a Dealreporter tweet.

Dealreporter very last thirty day period that Regular General’s offer you was probable to resolve the FCC’s and the Dept. of Justice’s fears.