On January 16, 2020, Standard General L.P. announced that it has issued a press release and delivered an open letter to the shareholders of TEGNA Inc. In the letter, Standard General stated that it is writing to correct several false assertions in the Company’s press release dated January 15, 2020. Standard General added that while it will not be responding publicly to every baseless allegation Company may make, several of the Company’s statements require refutation. Standard General expressed its view that its involvement is to ensure that Company is on the right path to maximize shareholder value. Standard General added that it is disappointed in the Company’s response, it has no impact on its plan to pursue representation on the Company’s board and to drive value creation for all the Company shareholders.