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Investor to 'actively' engage with TEGNA on strategic alternatives

Shareholder Standard General LP plans to "actively" engage with TEGNA Inc. on its strategic alternatives, including offers the company previously received and any such proposals in the future.

In a Schedule 13D filed Sept. 30, the shareholder said it has observed news articles, company filings and third-party research reports regarding possible M&A activity relating to TEGNA, and may hold talks with the company and its board regarding plans for the company and its assets.

The investor disclosed beneficial ownership of 21,124,315 common shares of TEGNA, representing 9.8% of the company's common stock. The shares were purchased for about $196.0 million, for investment purposes.