Deb McDermott

With Standard General’s deal to buy Tegna hanging by a thread, the broadcaster may continue on its pre-deal trajectory or be sold in pieces, analysts say. But the FCC’s glacial review process, which may have been triggered by private equity’s role in the deal, has had a chilling impact on other potential large transactions in the industry. Note: This story is available to TVNewsCheck Premium members only. If you would like to upgrade your free TVNewsCheck membership to Premium now, you can visit your Member Home Page, available when you log in at the very top right corner of the site or in the Stay Connected Box that appears in the right column of virtually every page on the site. If you don’t see Member Home, you will need to click Log In or Subscribe.

Regulatory hurdles, opposition, continue to thwart deal closure. Kim reiterates his reasons for urging approval before a Feb. 22 fee kicks in, saying Standard General is committed to not reducing staffing at any of the stations it’s acquiring for at least two years as well as increasing local news production in those markets.

The Advocating for Women in Tech coalition has weighed in at the FCC in support of the Standard General-Tegna merger. McDermott is CEO of Standard Media. “As a Broadcasting & Cable Hall of Fame Honoree, Mrs. McDermott is widely recognized in her industry and lauded by her staff as one of the nation’s top executives,” the coalition wrote to FCC Chairwoman Jessica Rosenworcel. They also pointed out that the majority of board members of the new company will be women. They said McDermott is “extremely qualified” and “ready to lead the new company.”

Standard Media CEO Deb McDermott (r) says she has a track record running TV stations. So does Soo Kim, founder and managing partner of Standard General, which agreed to acquire Tegna for $5.4 billion. While the deal is being reviewed by the FCC, objections have been raised by Graham Media, unions and other groups concerned that newsroom jobs will be lost and about the influence of Apollo Global Management, which owns stations through Cox Media Group and is involved in the financing of Standard General’s bid.

“One of our key initiatives is to give our communities a voice,” says Soo Kim (l), founding partner of Standard General and current managing partner and chief investment officer. “We want to partner with community journalism groups to amplify the work they’re doing and the communities they represent.” The merged company will be led by television industry veteran Deb McDermott, forming America’s largest minority-owned, women-led broadcasting company.

In a highly unusual move during a takeover, Standard Media CEO Deb McDermott tries to calm rumors and concerns about staff cuts.

Following the close of the $24-a-share transaction, Deb McDermott will continue to lead the group. Tegna stations in Austin (KVUE), Dallas (WFAA and KMPX) and Houston (KHOU and KTBU) are expected to be acquired by Cox Media Group from Standard General. Also after closing, Premion is expected to operate as a standalone business majority owned by Cox Media Group and Standard General.

Deb McDermott’s new Standard Media is buying the Providence, R.I., and Lincoln, Neb., ABC affiliates from Phil Lombardo for $83 million and she says she’s looking for more.

The imminent collapse of Sinclair’s merger makes the combative station group one of the all-time losers in FCC regulatory history, but they’re not the only ones who’ve lost. Here are some of the other losers caught up in this week’s train wreck along with some of the winners. At the top of the latter group is FCC Chairman Ajit Pai, who has clearly signaled that he is no pushover.