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Standard General to acquire Tegna for $8.6 Billion


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NaFFAA Executive Director Kelly Coldiron called Standard General founder Soo Kim a respected business leader in the Asian American and Pacific Islander community who has built a career investing in jobs and has demonstrated a passion for broadcast journalism by tourning struggling stations around by boosting local news.

 

I read that word as "touring" and it made the sentence make no sense. 😆

 

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I declared this transaction completely and utterly doomed months ago in TNC and even then, I didn't expect for Apollo and Standard General to take their goddam masks off while the deal is (deservedly) languishing in the FCC and DOJ.

 

https://www.nexttv.com/news/dish-says-cox-wants-deal-to-include-standard-media-tegna-stations-in-blackout-talks

 

If you wanted a company - make it two companies! - that makes Sinclair look normal and ethical, may I present to you Apollo-Cox and Standard General. I call it... Apollostandarditis.

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50 minutes ago, Myron Falwell said:

If you wanted a company - make it two companies! - that makes Sinclair look normal and ethical, may I present to you Apollo-Cox and Standard General. I call it... Apollostandarditis.

 

Sounds nasty, but I'm sure there's a topical ointment for that.

 

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3 hours ago, Myron Falwell said:

I declared this transaction completely and utterly doomed months ago in TNC and even then, I didn't expect for Apollo and Standard General to take their goddam masks off while the deal is (deservedly) languishing in the FCC and DOJ.

 

https://www.nexttv.com/news/dish-says-cox-wants-deal-to-include-standard-media-tegna-stations-in-blackout-talks

 

If you wanted a company - make it two companies! - that makes Sinclair look normal and ethical, may I present to you Apollo-Cox and Standard General. I call it... Apollostandarditis.

Good lord. Apollo, Standard, if y'all are having second thoughts about going through with this, all yall have to do is call it off. 

 

 

Y'all are basically on your knees begging and pleading for this to go to an ALJ. 

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5 hours ago, Myron Falwell said:

I declared this transaction completely and utterly doomed months ago in TNC and even then, I didn't expect for Apollo and Standard General to take their goddam masks off while the deal is (deservedly) languishing in the FCC and DOJ.

 

https://www.nexttv.com/news/dish-says-cox-wants-deal-to-include-standard-media-tegna-stations-in-blackout-talks

 

If you wanted a company - make it two companies! - that makes Sinclair look normal and ethical, may I present to you Apollo-Cox and Standard General. I call it... Apollostandarditis.

 

They didn't "take their masks off" as you say. In the article says Dish claims, "that Cox, controlled by Apollo Global Management, has delayed “meaningful discussions” because it wants stations currently owned by Standard General and Tegna to be included because of connections to Apollo." So, Dish is claiming that Cox is delaying the negotiations because it wants to include the Tegna stations. That's Dish's opinion. Might be true, might not. But the point is, to date there is no actual proof of this. Just one company making up a narrative about the other. 

 

And Cox is hardly innocent. They put out a statement saying Dish was "employing their well-worn anti-consumer drop tactic" by "unilaterally choosing to black out all Cox Media Group TV stations across the country." 

 

Both statements are full of hyperbole to make themselves look like the injured party. 

Edited by carolinanews4
typo
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1 hour ago, carolinanews4 said:

 

They didn't "take their masks off" as you say. In the article says Dish claims, "that Cox, controlled by Apollo Global Management, has delayed “meaningful discussions” because it wants stations currently owned by Standard General and Tegna to be included because of connections to Apollo." So, Dish is claiming that Cox is delaying the negotiations because it wants to include the Tegna stations. That's Dish's opinion. Might be true, might not. But the point is, to date there is no actual proof of this. Just one company making up a narrative about the other. 

 

And Cox is hardly innocent. They put out a statement saying Dish was "employing their well-worn anti-consumer drop tactic" by "unilaterally choosing to black out all Cox Media Group TV stations across the country." 

 

Both statements are full of hyperbole to make themselves look like the injured party. 

It misses the point. Apollo Global Management (which is the real name for "Cox Media Group") is a private equity firm that is allegedly not supposed to be exerting any control in the business dealings of Tegna or Standard General; they are only supposed to be providing financing and nothing more. It's what Soo and Deb have been repeatedly bleating about for months and months to their apologists (or is that Apollogists?).

 

Shit like this makes it obvious in the court of public opinion that Apollo merely wants to run "Standard General" or "Community News" (or whatever in the hell Soo wanted to call the byproduct of this failed transaction) as a puppet company, owning three stations in Atlanta and four in Jacksonville. It's unethical, grimy as fuck, and lends credibility to Graham's already legitimate protest of the deal.

 

There's a reason why the FCC and DOJ are literally sitting on the deal at this point and letting the clock run out.

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1 minute ago, GoldenShine9 said:

They have also done nothing to solve any of the issues, particularly how it will essentially be one company. The clock is likely to run out on this one.

Sinclair at least tried to give an effort, even if it was disingenuous and back-handed (and in the case of WGN-TV, terminally fucking stupid).

 

All Soo Kim has done is whine and cry and play the victim and make ridiculous and baseless accusations of racism among opponents of the deal. He's so brittle, it makes you wonder how in the wide wide world of sports he literally destroyed Media General and LIN and offloaded that unholy mess to Nexstar for a king's ransom.

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3 minutes ago, Myron Falwell said:

Sinclair at least tried to give an effort, even if it was disingenuous and back-handed (and in the case of WGN-TV, terminally fucking stupid).

 

All Soo Kim has done is whine and cry and play the victim and make ridiculous and baseless accusations of racism among opponents of the deal. He's so brittle, it makes you wonder how in the wide wide world of sports he literally destroyed Media General and LIN and offloaded that unholy mess to Nexstar for a king's ransom.

 

He needs to go far, far away.

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11 hours ago, ColtFromGulfcoast said:

 Soo Kim should especially know better. Didn't he lose out on some stations due to a certain other company that was mentioned just earlier on this page of this very thread doing just what he's doing now??

 

WRLH would like a word about this. 

Some people have more money than sense

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You guys really need to get off this whole Sinclair thing like it was some kind of biblical sin. What they did was good lawyering--nothing more, nothing less. They tried to stretch the boundaries of the law which happens all the time. (That's why people hire lawyers.) That time they went too far and it failed. There's nothing wrong with what they tried to do.

 

This one is a little more clear-cut because of foreign ownership and just the convoluted mess of ownership in general. We already have enough problems with globalism, I don't want foreigners owning our media and deciding what set of propaganda we get to hear.

 

As bad as you guys say Tegna is, they're still better than Nexstar and Sinclair.

 

This happens to be a market where Sinclair is very good, but I understand why they have a bad reputation. I remember WTTE from its early days when it was a real low budget affair. I don't care about their politics. Conservatives also deserve to have a voice where in a marketplace that's 95% leftist / establishment.

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5 hours ago, DirtyHarry said:

You guys really need to get off this whole Sinclair thing like it was some kind of biblical sin. What they did was good lawyering--nothing more, nothing less. They tried to stretch the boundaries of the law which happens all the time. (That's why people hire lawyers.) That time they went too far and it failed. There's nothing wrong with what they tried to do.

Sinclair gave an effort. Standard General and Apollo not only haven't, they've repeatedly insisted that they don't have to do a thing.

 

If it was Sinclair buying Tegna, they'd pull the shell game, divest a minimum of stations, and it would have been approved by September. Because unlike Soo Kim, David Smith actually knows how to close a deal.

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If I were try to look past the spin Dish is doing, I would assume that Apollo is trying to negotiate for the stations they’re supposed to receive from Tegna and Standard once the transaction is through. Still really really weird and totally not shady, but they can’t be that stupid.

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7 hours ago, Bananaman said:

If I were try to look past the spin Dish is doing, I would assume that Apollo is trying to negotiate for the stations they’re supposed to receive from Tegna and Standard once the transaction is through. Still really really weird and totally not shady, but they can’t be that stupid.

As a good friend of mine is wont to say, "don't ask because they just might answer".

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On 12/2/2022 at 10:37 PM, Myron Falwell said:

It misses the point. Apollo Global Management (which is the real name for "Cox Media Group") is a private equity firm that is allegedly not supposed to be exerting any control in the business dealings of Tegna or Standard General; they are only supposed to be providing financing and nothing more. It's what Soo and Deb have been repeatedly bleating about for months and months to their apologists (or is that Apollogists?).

 

Shit like this makes it obvious in the court of public opinion that Apollo merely wants to run "Standard General" or "Community News" (or whatever in the hell Soo wanted to call the byproduct of this failed transaction) as a puppet company, owning three stations in Atlanta and four in Jacksonville. It's unethical, grimy as fuck, and lends credibility to Graham's already legitimate protest of the deal.

 

There's a reason why the FCC and DOJ are literally sitting on the deal at this point and letting the clock run out.

 

First off, the real name for Cox Media Group is Cox Media Group. 71% of CMG is owned by Apollo Global while 29% is owned by Cox Enterprises. I understand that Apollo has claimed it won't be involved in day-to-day business decisions should the TEGNA/Standard General deal go through. My point is that you can't use a press release by Dish as evidence. It was a press release in a negotiation. You appear to be taking the Dish claim as fact to use against a deal you don't like. Don't like the deal? Fine. There are plenty of reasons to object to this deal. But a press release by Dish isn't a legit reason. 

 

Also, why is it that you repeatedly use foul language in your posts? Posts are supposed to meet a "work safe" standard. Yet the post I quoted above and your original post on this Dish/CMG topic each contained language that I couldn't use in a work email. 

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6 hours ago, carolinanews4 said:

 

First off, the real name for Cox Media Group is Cox Media Group. 71% of CMG is owned by Apollo Global while 29% is owned by Cox Enterprises. I understand that Apollo has claimed it won't be involved in day-to-day business decisions should the TEGNA/Standard General deal go through. My point is that you can't use a press release by Dish as evidence. It was a press release in a negotiation. You appear to be taking the Dish claim as fact to use against a deal you don't like. Don't like the deal? Fine. There are plenty of reasons to object to this deal. But a press release by Dish isn't a legit reason. 

Cox Media Group is Apollo Global Management wearing Groucho Marx glasses. It is no longer an Atlanta-based outfit. It is cheaply run out of New York with the Cox family having minimal input. Already Apollo is planning on dumping the radio stations for a mere pittance.

 

6 hours ago, carolinanews4 said:

I understand that Apollo has claimed it won't be involved in day-to-day business decisions should the TEGNA/Standard General deal go through. My point is that you can't use a press release by Dish as evidence. It was a press release in a negotiation. You appear to be taking the Dish claim as fact to use against a deal you don't like. Don't like the deal? Fine. There are plenty of reasons to object to this deal. But a press release by Dish isn't a legit reason. 

With all due respect, Soo is using quotes from random strangers no one has ever heard from as "proof" of his track record. It's not helping him in any way and the deal is dying on the vine. I'd take a complaint which you conveniently dismiss as "a press release by Dish" with more seriousness than anything that comes out of Soo's mouth or his sycophants.

 

6 hours ago, carolinanews4 said:

Also, why is it that you repeatedly use foul language in your posts? Posts are supposed to meet a "work safe" standard. Yet the post I quoted above and your original post on this Dish/CMG topic each contained language that I couldn't use in a work email. 

Try dealing non-stop with people who coined the insipid phrase "Tegnaitis" and rooting for Apollo/Standard General to buy out Tegna because they have an irrational hatred of Dave Lougee... to hell with how many people will be canned as a result... and maybe, just maybe, for once you might be able to see why I'm a tad coarse.

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