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Standard General’s Kim ‘Bewildered’ by FCC’s Tegna Sale Scrutiny

  • Agency issues a letter to Standard General and TV broadcaster
  • Any coordination with Apollo Global Management questioned
Byron Allen Is Said To Make $8.5 Billion Offer For Tegna
Photographer: Andrew Harrer/Bloomberg
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Standard General LP founding partner Soo Kim said he is “bewildered” by the growing federal scrutiny of his company’s $5.4 billion deal to buy TV broadcaster Tegna Inc.

In a letter Friday, the Federal Communications Commission posed a series of questions, including how the deal for 64 TV stations would improve local broadcasting. Critics earlier said the transaction would lead to higher cable TV prices for consumers.