Tegna Disputes Claims by Investment Company

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ap215
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Tegna Disputes Claims by Investment Company

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Tegna Disputes Claims by Investment Company

Tegna disputed claims made by investment company Standard General LP, which owns a 9.7% stake in the broadcaster and is seeking four seats on its board.

“Since Standard General disclosed its investment in Tegna, our Board and management team have held multiple meetings with [Standard General Managing Partner] Soohyung Kim to learn about his perspective on Tegna,” Tegna said in a statement Wednesday. “In those meetings, Mr. Kim demanded a Board seat for himself but offered no specific ideas to create value – only statements that if he were on the Board, he would have a unique ability to source and execute ‘transformative’ M&A.”

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