Court Declines to Speed Standard General-Tegna Deal at FCC (1)

A court declined to speed regulatory consideration of Standard General LP’s proposed purchase of TV broadcaster Tegna Inc., leaving the $5.4 billion transaction to languish as a financing deadline nears.

In an order released Friday, the US Court of Appeals for the District of Columbia Circuit rejected Standard General’s request to order the Federal Communications Commission to decide by April 28 whether to approve the deal. Standard General had said a decision by that date would allow time for judicial review before a May 22 deadline when financing expires.

The FCC in February sent the deal proposed last ...