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- Tegna (NYSE:TGNA) fell 3% amid a report that its sale to Standard General may not be completed before a Feb. 22 termination date.
- There's a chance that the deal won't be approved by regulators before the Feb. 22 walk deadline, according a Capitol Forum report. Tegna (TGNA) can exit the deal at the point or extend it another three months.
- Tegna (TGNA) may also be weaker ahead of call with Standard General's Soo Kim where he's expected to provide an update on the acquisition and address the regulatory process. Investors have been worried as the deal is awaiting regulatory approved from the Federal Communications Commission and the Dept. of Justice.
- TV broadcaster Tegna (TGNA) in November agreed to extend the end date for its sale to Standard General until February 22.
- Tegna (TGNA) in late February agreed to be sold to Standard General for $24/share in cash.