Standard General's $8.6 billion bid to acquire Tegna Inc. hit a major legal roadblock. The FCC's Media Bureau issued a hearing designation order to stop the deal in its tracks. This action comes after various advocacy groups and industry competitors filed petitions to prevent the merger from moving forward.

The opposition claims that combining these broadcasting giants would lead to higher retransmission fees for consumers and less competition in local news. While the Federal Communications Commission (FCC) and the Department of Justice (DOJ) reviewed the deal, the FCC effectively killed the merger in February 2023. The agency ordered a hearing to avoid what was described as potential harm to the market.

Standard General and Tegna saw the deal officially collapse in May 2023 when financing expired. Critics had been vocal opponents of the deal, arguing that the consolidation would give the suitor unfair leverage in fee negotiations. For now, the thousands of employees and local stations involved in this multi-billion dollar deal are no longer in a state of uncertainty.