NEW YORK, April 14, 2020 /PRNewswire/ -- Standard General L.P., the largest equity holder of TEGNA Inc. ("TEGNA" or the "Company") (NYSE: TGNA), today released a letter to TEGNA shareholders urging them to vote the WHITE proxy card "FOR" Standard General's four exceptional nominees.
The letter highlights TEGNA's share price underperformance, long-term operational missteps, and series of defensive actions that have impeded transformative M&A and destroyed shareholder value.
Standard General's four highly qualified nominees – Colleen Brown, Ellen McClain Haime, Soohyung Kim, and Deborah McDermott – bring extensive local affiliate broadcast experience and are committed to a thorough review of TEGNA's operations, capital allocation, strategic alternatives, and governance to promote needed changes that benefit shareholders.
Standard General encourages its fellow shareholders to read the letter, as well as its proxy materials and other shareholder letters, which are accessible at www.TomorrowsTEGNA.com.
BEST-IN-CLASS ASSETS DESERVE BEST-IN-CLASS SHAREHOLDER VALUE CREATION
TRANSFORM TEGNA: VOTE THE WHITE PROXY CARD TODAY
YOU HAVE AN OPPORTUNITY TO PROTECT YOUR INVESTMENT IN TEGNA BY VOTING THE WHITE PROXY CARD "FOR" STANDARD GENERAL'S EXCEPTIONAL NOMINEES
Your vote is extremely important. We encourage shareholders to submit their proxies by Internet or via telephone if possible, given current circumstances surrounding COVID-19. If you prefer to mail your proxy, simply sign, date, and return it in the envelope provided.
If you have any questions, or need
About Standard General
Standard General was founded in 2007 and primarily manages capital for public and private pension funds, endowments, foundations, and high net-worth individuals. Standard General's extensive experience in local television broadcasting includes investments in: Media General, a former publicly-traded broadcasting company now part of Nexstar Media Group; Standard Media Group, an innovative and diverse media company committed to high-quality local news; and MediaCo Holding, a holding company that invests in local broadcast media and radio stations.
Standard General L.P., together with the other participants in Standard General's proxy solicitation, has filed a definitive proxy statement and accompanying WHITE proxy card with the Securities and Exchange Commission ("SEC") to be used to solicit proxies in connection with the 2020 annual meeting of shareholders (the "Annual Meeting") of TEGNA Inc. (the "Company"). Shareholders are advised to read the proxy statement and any other documents related to the solicitation of shareholders of the Company in connection with the Annual Meeting because they contain important information, including information relating to the participants in Standard General's proxy solicitation. These materials and other materials filed by Standard General with the SEC in connection with the solicitation of proxies are available at no charge on the SEC's website at http://www.sec.gov. The definitive proxy statement and other relevant documents filed by Standard General with the SEC are also available, without charge, by directing a request to Standard General's proxy solicitor, Okapi Partners LLC, at its toll-free number 1-855-208-8902 or via email at [email protected].
SOURCE Standard General L.P.