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Tegna (NYSE:TGNA) rose 1.8% in after hours buying and selling on a report that the Federal Communications Fee is more likely to see stress within the coming weeks to decide on the Commonplace Common and Apollo (APO) deal.
Current filings from unions against the deal seem to have failed to lift new points with the FCC, in keeping with a Dealreporter merchandise, that cited sources acquainted.
The newest report comes after a Bloomberg story on Thursday that mentioned the Justice Dept. is evaluating whether or not Commonplace Common’s buy could result in larger cable costs. There have been additionally some questions associated to potential job cuts.
The Dealreporter merchandise from Friday mentioned that the final time the DOJ requested paperwork from the events was a number of months in the past. Issues concerning the deal raised by Home Speaker Nancy Pelosi (D-CA) and Commerce Chairman Frank Pallone (D-NJ) final month seem to been addressed/resolved in current conferences.
Commonplace Common in a submitting with the FCC on on Thursday refuted claims from the a labor union that the corporate deliberate to chop jobs after buying Tegna (TGNA).
Tegna shares fell 2.3% in common buying and selling not less than partly as competitor Grey Tv (GTN) plunged 34% after reporting Q3 outcomes that missed analysts estimates.
Tegna (TGNA) in late February agreed to be offered to Commonplace Common and Apollo World (APO) for $24/share in money.
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