Standard General to waive certain contractual rights in Tegna deal

Standard General L.P. issued a statement regarding its pending acquisition of TEGNA: "Our proposed acquisition of TEGNA has been the subject of regulatory review that continues into the phase where the purchase price is increasing every day. The regulatory authorities have expressed concerns to us that our transaction could result in negative impacts on cable and satellite TV consumers in an environment where the government has a heightened focus on inflation. To address these concerns in a manner consistent with our obligations under our merger agreement, we have committed to waive certain contractual rights we would have had as a result of the transaction. This commitment further demonstrates the public interest benefits of the transaction. We continue to be excited about the bright future we see for TEGNA under our leadership. We look forward to continue working collaboratively with regulators to complete their review of the proposed transaction and proceed to closing."