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Replace 5:55pm on Jan. 14: Provides Normal Normal remark.
Normal Normal sent a letter to Sen. Elizabeth Warren (D-MA) searching for to satisfy concerning her feedback on the Tegna (NYSE:TGNA) deal.
The letter comes after Warren despatched a letter Wednesday to the Federal Communications Fee asking the company to dam Normal Normal’s acquisition of Tegna. Information of the letter despatched Tegna shares down 3.3% on Thursday and so they ticked decrease 0.7% on Friday.
“We admire Sen. Warren’s issues and are assured that by means of our binding commitments and the basics of this transaction we’ve got greater than addressed them,” Normal Normal mentioned in an announcement emailed to Searching for Alpha. “This transaction will shield native newsroom jobs throughout the nation, improve funding in native tv broadcasting and newsgathering, and protect competitors within the market, whereas creating the nation’s largest minority-owned, woman-led broadcast firm.”
The Warren push comes after Normal Normal final month provided some cures to the regulators together with waiving some certain contractual rights in an effort to appease regulators on the FCC and the Dept. of Justice.
Warren within the letter argued that the behavioral cures “are traditionally ineffective and will present no consolation that these Wall Road corporations is not going to interact in anticompetitive practices after the deal is accomplished.”
Information of the Normal Normal letter to Warren was earlier reported in a Dealreporter tweet.
Dealreporter final month that Normal Normal’s supply was likely to resolve the FCC’s and the Dept. of Justice’s concerns.