In a major victory for journalists and media workers, local news broadcaster TEGNA terminated its proposed sale to hedge fund Standard General after funding for the deal expired.
“The Federal Communications Commission (FCC) stood up for media workers by scrutinizing a hedge fund’s attempt to take over and destroy more local news in the U.S.,” said CWA President Chris Shelton. “CWA thanks FCC Chair Jessica Rosenworcel and her staff for finally doing what we have asked regulators to do for decades: protect American jobs and hold Wall Street firms accountable.”
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