Journalist Union Asks Biden to Block Standard/Tegna
The White House should block Standard General’s proposed buy of Tegna, said the NewsGuild sector of the Communications Workers of America in a letter to President Joe Biden posted on the NewsGuild’s website Thursday. “Mr. President, you can do something…
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to protect workers, journalists, local news, and hardworking families. Please urge the FCC to reject the Apollo/Standard General/TEGNA deal.” The Tegna transaction would “kill journalism jobs, undermine local news and raise prices for American families,” the letter said. The labor union for journalists also weighed in at the FCC (see 2205130072). Through station swaps designed to trigger after-acquired clauses in retransmission consent contracts, the deal “would put in place a premeditated price fixing scheme that would supercharge inflation by jacking up prices on everyday Americans,” the letter said. NewsGuild-CWA also argued the transaction could violate FCC ownership caps if loopholes allow Apollo Global Management, which already owns stations, to take over the Tegna stations. In the deal’s FCC filings, Apollo is an investor in the transaction but won’t own a controlling interest in the new entity. Apollo, Standard and Tegna didn’t comment.