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Standard General’s Soo Kim said he’s optimistic that talks with regulators over the planned acquisition of Tegna (NYSE:TGNA) are closer to the end than the beginning.
“We have a dialogue going on with regulators to address any of the concerns they have or others,” Kim said in a conference call with reporters. “We are optimistic that we are closer to the end than the beginning.”
Kim declined to comment on specific talks with regulators. Investors have been worried as the deal is awaiting regulatory approved from the Federal Communications Commission and the Dept. of Justice.
TV broadcaster Tegna (TGNA) in November agreed to extend the end date for its sale to Standard General until February 22., which can be extended another three months. Tegna fell 3.6% in trading on Monday.
“We would prefer to get this done sooner not later,” Kim said on the call.
Standard General sent a letter to Sen. Elizabeth Warren (D-MA) earlier this month seeking to meet with her regarding her comments that the FCC should block the deal. Kim declined to say if Warren had responded to the offer.
Tegna (TGNA) in late February agreed to be sold to Standard General for $24/share in cash.
