Public Interest Groups: Standard/Tegna Could Become 'Template' for Private Equity
The FCC should take note of reports that DOJ is scrutinizing the proposed Standard General/Tegna deal, and examine “the coordinated efforts of a private equity fund and a hedge fund to transfer assets from one to the other, with the…
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sole purpose of raising prices for their mutual benefit,” said a joint filing posted Monday in docket 22-162 from Common Cause, Public Knowledge, the United Church of Christ Media Justice Ministry, and two sectors of the Communications Workers of America. The groups argue that, if approved, the deal would become “a template” for other private equity entities and encourage collusive behavior, the groups said. The retrans price increases created from the deal’s after-acquired clauses “would not be the result of bona fide competition, but would simply be an artifact of an intentional manipulation of the transaction process by two interrelated parties with a shared interest in the incremental revenue,” said the filing.