Acquisition of 9News Parent Company Would ‘Kill Journalism Jobs, Undermine Local News’

Jon Schleuss, the president of the largest union of journalists, is calling for the the Biden Administration to urge the FCC to reject an attempt by hedge funds Apollo Global Management and Standard General to acquire TEGNA, the parent company of 9News:

“I urge you to call on the Federal Communications Commission to block the takeover of TEGNA, one of the largest local broadcasting television station groups, by Wall Street mega-funds Apollo Global Management and Standard General. This proposed transaction would kill journalism jobs, undermine local news and raise prices for American families”

“Wall Street firms behind this transaction secured billions of dollars in financing by apparently planning to cut journalism jobs. In addition to forcing dedicated local reporters to take ‘the longest walk a parent has to make’ to tell their children that mom or dad lost their job, such brutal cuts also would undermine local news. With less local news, communities will suffer from lower voter participation, higher taxes, more corruption and increased partisanship.”