Proxy advisor ISS backs Standard General nominee Brown at Tegna

By Svea Herbst-Bayliss

BOSTON (Reuters) – Proxy advisor Institutional Shareholder Services said on Friday that Tegna shareholders should elect one of hedge fund Standard General’s director nominees to the broadcast company’s board.

ISS backed dissident nominee Colleen Brown saying that her “direct experience with local stations would appear to be additive to the board.” ISS recommended that shareholders not vote for the other three dissident nominees, including Soohyung Kim, the hedge fund’s founder who has been pushing the company to consider selling itself.

Reuters saw a copy of the ISS report on Friday.

(Reporting by Svea Herbst-Bayliss; Editing by Chizu Nomiyama)