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Stock impact report

Ariel Investments says backs Tegna in fight with Standard General [Reuters]

TEGNA Inc (TGNA) 
Last tegna inc earnings: 2/11 08:01 am Check Earnings Report
US:NYSE Investor Relations: investors.tegna.com
Company Research Source: Reuters
Ariel Investments says backs Tegna in fight with Standard General (Reuters) - Ariel Investments LLC, the 11th-largest shareholder of U.S. regional TV station operator Tegna Inc ( TGNA.N ), said on Monday it was backing the company’s board in its proxy contest with hedge fund Standard General LP. “We have been very happy with (Tegna’s) performance. They have delivered solid results. They have made the right moves by making accretive acquisitions,” Ariel portfolio fund manager John Miller said in an interview. Ariel, which was founded by John W. Rogers Jr. in 1983, owns more than 5 million shares in Tegna, equivalent to more than a 2.3% stake, according to Miller. Standard General, Tegna’s largest shareholder with an approximately 12% stake, is asking the company’s shareholders to elect its four nominees, including founding partner Soohyung Kim, to Tegna’s 12-member board in a vote on April 30. Standard General has criticized Tegna’s stock performance and has said its management has b Show less Read more
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