TGNA TEGNA Inc

By Denny Jacob

Standard General L.P. on Friday said it issued fresh commitments to regulators related to its proposed acquisition of broadcaster Tegna Inc.

The capital management firm in a letter to the Federal Communications Commission on Thursday said it committed to maintain current newsroom staffing for a minimum of two years, as well as volunteering to report any newsroom layoffs that might occur after that time period to the telecom regulator.

Standard General in a letter to the FCC on Friday said it, Apollo and Cox Media Group agreed to transaction conditions requested by the NCTA, a trade association for the U.S. broadband and pay television industries. They committed not to enter into joint sales, shared services or local marketing agreements between Tegna stations and Cox Media Group stations after closing, as well as committing not to engage in joint or coordinated retransmission agreement negotiations, the firm said.

The latest commitments add to Standard General's commitment last Friday to waive certain contractual rights it would have had as a result of the deal.

"We have been clear from the beginning that we intend to grow, not shrink the newsgathering operations at our local stations; because we believe in local broadcasting and investing in the industry's evolution will help preserve and strengthen it," Standard General said in a statement.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

December 23, 2022 14:38 ET (19:38 GMT)

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