For some two years, Soohyung Kim and his Standard General have wanted to control the broadcast television station owner formerly known as Gannett. Soo Kim’s journey includes the unsuccessful February 2020 seating of four board seats to any of the nominees presented by Standard General and two subsequent pitches to shareholders to grant him greater sway on the Board of Directors.
Then came the September 2021 confirmation by TEGNA that it had received a joint bid from Standard General and the majority equity holder in Cox Media Group, Apollo Global Management. The proposed transaction has seen opposition arise from the likes of a journalist labor union to a House of Representatives Member serving Humboldt and Del Norte Counties in Northern California who disapproves of a spin-off deal precipitated by the TEGNA proposal.
Now, those opposed to the TEGNA buyout plan, and those who favor it, have the opportunity to share their thoughts with the FCC.
