Another battle between dissident shareholder Soohyung Kim and his Standard General, the owner of close Sinclair Broadcast Group partner Bally’s, and TEGNA is brewing. Kim has reached out to TEGNA shareholders asking them, once again, to support his board of directors nominee slate at the company’s annual shareholders’ meeting. Calls of racism have been lobbed against TEGNA.
Yet, through it all, TEGNA shares haven’t been this high in nearly 14 years. And, that was technically when the company was known as Gannett. Now, TEGNA has released preliminary Q1 2021 revenue data and second quarter guidance that makes Soo’s sway that much more difficult.