FCC Issues Hearing Designation Order For Pending Standard General-Tegna (TGNA) Transactions (earlier)

The Federal Communications Commission today announced that the Media Bureau has designated certain questions related to the pending applications involving Standard General, TEGNA (NYSE: TGNA), and Cox Media Group to its administrative law judge. The pending applications involve a series of transactions that would result in Standard General’s acquisition of 64 full-power TV stations and two full-power radio stations currently owned and operated by TEGNA.

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.

“As part of the FCC’s mission, we are responsible for determining whether grant of the applications constituting this transaction serves the public interest. 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,” said Chairwoman Rosenworcel. “The additional review will allow us to make a more informed assessment on whether proposed safeguards are sufficient to protect the public interest, and we will take the time needed to address these critical questions.”

Section 310(d) of the Communications Act of 1934 requires that the Commission make an affirmative determination that grant of an application for assignment or transfer of control serves the public interest. In doing so, the Commission must consider whether a proposed transaction could result in public interest harms by substantially frustrating or impairing the objectives or implementation of the Act or related statutes. Where the record before the Commission regarding any transfer application presents substantial and material questions of fact, the statute requires the Commission to designate those issues for an evidentiary hearing.

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