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Joele Frank represents Standard General private equity firm as it blasts the Federal Communications Commission’s Media Bureau’s bid to kill its proposed $5.4B deal to acquire Tegna television station operator.
The Media Bureau said on Feb. 24 the deal, which was announced a year ago, “could artificially raise prices for consumers and result in job losses." It wants further hearings.
Two Republican FCC commissioners Brendan Carr and Nathan Simington criticized the Media Bureau’s move. “After a protracted, nearly yearlong review, the Commission should be providing the parties with a decision on the merits—not an uncertain future," they said in a statement.
Soo Kim, Standard General’s managing partner said the Media Bureau “is attempting to scuttle the deal by ordering a wholly unnecessary hearing process, that if left standing by the commission would kill the deal.”
Standard General wants the FCC to vote now on the transaction and render a decision.
The firm said the Media Bureau’s “actions stand in sharp contract to other recent broadcast transactions which required special FCC actions yet were all approved in a timely manner.”
Tegna owns 61 stations in 51 markets.
Joele Frank, Wilkinson Brimmer Katcher’s Andy Brimmer, Jamie Moser and Jack Kelleher represent Standard General.
Jenn Kettnich, who has more than 15 years of financial communications experience, has joined Liftoff Mobile as VP-investor relations following completion of its recent IPO.
Joele Frank handles Crinetics Pharmaceuticals as the specialist for treatments for endocrine diseases agrees to get acquired by Vertex Pharmaceuticals in a deal pegged at $8.8B.
Teneo represents Honeywell spin-off Solstice Advanced Materials as it buys Collected Strategies client Element Solutions in a deal pegged at $14.5B.
Dallas-based Throughline Global Advisors advised Principal Mineral as it acquired Isola Group, maker of copper-clad laminates used in printed circuit boards.
oele Frank works for satellite operator Iridium Communications as it gets acquired by space company Rocket Lab in a deal worth $8B.
