WKYC-TV owner Tegna Rumored to face a merger

[Y2kTheNewOldies]

https://finance.yahoo.com/news/tegna-investor-seek-four-board-013028039.html

(Bloomberg) -- Tegna Inc.’s third-biggest shareholder nominated four directors to the broadcaster’s board after its push for the company to explore strategic alternatives, including a sale, was stonewalled.

Standard General LP, which owns about 9.7% of Tegna, unveiled its slate of directors Wednesday, confirming an earlier Bloomberg News report. Standard General has discussed its views with management but the company has stymied its push for board representation and a call to explore strategic alternatives, according to people familiar with the matter.

“Given Standard General’s substantial investment in Tegna, our expertise in the broadcasting industry, and our focus on driving value for all Tegna shareholders, we strongly believe that Tegna shareholders would benefit from having a representative of Standard General on the Tegna board,” Standard General Chief Executive Officer Soo Kim wrote in a letter to the company’s investors Wednesday.

Standard General’s nominees include Kim, Standard Media Group LLC CEO Deborah McDermott, Marca Global LLC founder Colleen Brown and Ellen McClain Haime, according to a statement.

If a sale or merger is rumored who will the candidate be though.