TEGNA Inc. is a proud equal opportunity employer. After evaluating this opportunity against TEGNAs standalone prospects and other strategic alternatives, our Board concluded that this transaction maximizes value for TEGNA shareholders. Total company Adjusted EBITDA2 was $361 million, representing an increase of 47 percent compared to the fourth quarter of 2021. We expect 2022 to be another extraordinary. Subsidiaries to TEGNA include Central Newspapers, Florida Today, and THV11. On. The 20 markets renewed cover 17 percent of the U.S. audience and nearly 21 . TEGNA (TGNA) and NBC extend partnership with multi-year deal to renew station affiliation agreements for 20 TEGNA markets in the United States. Cautionary Statement Regarding Forward-Looking Statements. Dave Lougee is President/CEO at Tegna Inc. See Dave Lougee's compensation, career history, education, & memberships. Tegna owns or operates 68 television stations located in 54 markets (including fourteen duopolies); it also owns two radio stations in Columbus, Ohio. Employees at the parent company, TEGNA, earn $56,684. RECENT CONTENT, PROGRAMMING AND ESG UPDATES. The company believes that such expenses and gains are not indicative of normal, ongoing operations. Our purpose is to serve the greater good of our communities through empowering stories, impactful investigations and innovative marketing services. The transaction is subject to approval by TEGNA shareholders, regulatory approvals, and other customary closing conditions, and is expected to close in the second half of 2022. TEGNA Inc. is a proud equal opportunity employer. We have made significant progress in recent years, but our record is not perfect, the spokesperson said in an emailed statement. TEGNA (TGNA) and NBC Ink Multi-Year Deal to Renew . The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360 view of the company Key Highlights TEGNA Inc (TEGNA) is a provider of media services. 12 News KPNX is owned and operated by TEGNA Inc., which operates 66 television stations in 54 markets. The transaction was unanimously approved by the TEGNA Board. [39][43][44][45] The company stated that Lougee "immediately acknowledged the incident and has stated that he made a mistake, for which he had apologized immediately at the time". A large media company with 6,883 employees and an annual revenue of $3.0B, TEGNA is headquartered in Virginia. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Achieved record year for company revenue, subscription revenue, net income, and Adjusted EBITDA, Achieved sustained progress toward TEGNAs 2025 Diversity, Equity and Inclusion (DE&I) goals to grow Black, Indigenous and People of Color (BIPOC) representation in company leadership as well as content teams. Jakes ended in September 2017 and was replaced with news and entertainment show Daily Blast Live, which premiered on September 11, 2017. The Company undertakes no obligation to update or to revise any forward-looking statements. About TEGNA. These achievements are a credit to the hard work of TEGNAs dedicated employees, who are the Companys most valuable asset. [22][23], In March 2019, Tegna announced its formation of VAULT Studios, its first, in-house digital content studio. Bias Rating: LEAST BIASED 703-873-6747 Revenues increased 6.2% year over . Gracia Martore, president and CEO of Tegna, retired and stepped down from the board. In Q4, Locked On set a quarterly record with a total audience of more than 66 million listens and views. Tegna comprised the more profitable broadcast television and digital media divisions of the old Gannett, while Gannett's publishing interests were spun off as a "new" company that retained the Gannett name. The broadcasting company retained KPNX, which took the name, 12 News KPNX is owned and operated by TEGNA Inc., which operates 66 television stations in 54 markets. With 64 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top 25 markets among independent station groups. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. [49] Standard General responded to the letter, denying that they planned to cut jobs or hub content, and promoting that Tegna would become the largest female-run and minority-owned broadcaster in the United States. Based on our research, similar companies to TEGNA are ION Media Networks, Discovery, and Univision Holdings, Inc. They also referenced image consultants advising Asian reporters how to use makeup so their eyes looked more Western and requiring Latinx employees to disclose their own immigration status when broadcasting about such issues. The letter did not mention how recently those two instances or practices occurred. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the stockholders of the Company in connection with the proposed transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise, will be included in the proxy statement when it is filed with the SEC. While these items should not be disregarded in evaluation of our earnings performance, it is useful to exclude such items when analyzing current results and trends compared to other periods as these items can vary significantly from period to period depending on specific underlying transactions or events that may occur. THE HILL 1625 K STREET, NW SUITE 900 WASHINGTON DC 20006 | 202-628-8500 TEL | 202-628-8503 FAX. [39] Tegna's shareholders chose to re-elect all 12 current board members. (Press Release). These risks, uncertainties and other factors include, but are not limited to, those discussed under Risk Factors in the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021, and the following: (1) the timing, receipt and terms and conditions of any required governmental or regulatory approvals of the proposed transaction and the related transactions involving the parties that could reduce the anticipated benefits of or cause the parties to abandon the proposed transaction, (2) risks related to the satisfaction of the conditions to closing the proposed transaction (including the failure to obtain necessary regulatory approvals or the approval of the Companys stockholders), and the related transactions involving the parties, in the anticipated timeframe or at all, (3) the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the Companys common stock, (4) disruption from the proposed transaction making it more difficult to maintain business and operational relationships, including retaining and hiring key personnel and maintaining relationships with the Companys customers, vendors and others with whom it does business, (5) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement entered into pursuant to the proposed transaction or of the transactions involving the parties, (6) risks related to disruption of managements attention from the Companys ongoing business operations due to the proposed transaction, (7) significant transaction costs, (8) the risk of litigation and/or regulatory actions related to the proposed transaction or unfavorable results from currently pending litigation and proceedings or litigation and proceedings that could arise in the future, (9) other business effects, including the effects of industry, market, economic, political or regulatory conditions, (10) information technology system failures, data security breaches, data privacy compliance, network disruptions, and cybersecurity, malware or ransomware attacks, and (11) changes resulting from the COVID-19 pandemic, which could exacerbate any of the risks described above. Therefore, while we may incur or recognize these types of expenses and gains in the future, the company believes that removing these items for purposes of calculating the non-GAAP financial measures provides investors with a more focused presentation of our ongoing operating performance. Station assigned to licensee Pacific and Southern Company, Inc. KVUE was previously owned by Gannett from 1986 to 1999, when it was traded to Belo in exchange for KXTV. Tegna's digital advertising subsidiary Premion will be held as a standalone business between Standard and CMG. TEGNA's mission statement is "To serve the greater good of our communities. Richard Moody donated $2,850 to the Democratic Party. Tegnas Board of Directors, management team and station leadership continue to take concerted action to build a more diverse, equitable and inclusive Tegna all of which is publicly detailed, the spokesperson added. Our award-winning journalists have been recognized with numerous national honors including Edward R. Murrow, Alfred I. du Pont, George Foster Peabody, George Polk, Walter Cronkite and Emmy awards. Gannett purchased the construction permit for WINR-TV and signed the station on in 1957. Potential regulatory actions, changes in consumer behaviors and impacts on and modifications to the Companys operations and business relating thereto and the Companys ability to execute on its standalone plan can also cause actual results to differ materially. [citation needed], In 2020, activist shareholder Soo Kim, owner of Standard General, began to pursue control over Tegna, citing its "pattern of passivity" on the market. They also responded to objections by NewsGuild-CWA describing Standard General as "backed by anonymous investors located in the Cayman Islands", stating that the entirety of its board is represented by U.S. 212-355-4449, TEGNA With 63 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top 25 markets among independent station groups, reaching approximately 39 percent of all television households nationwide. These non-GAAP financial measures should not be considered in isolation from, or as a substitute for, the related GAAP measures, nor should they be considered superior to the related GAAP measures, and should be read together with financial information presented on a GAAP basis. TEGNA achieved record net income of $631 million on a GAAP basis, or $637 million on a non-GAAP basis. Finally, the website features fact checks from TEGNAs fact check service VERIFY Fact check. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. The studio's first content would be true crime podcasts, drawing on its station news content. Non-GAAP operating expenses less programming and Premion costs were down one percent compared to 2021. investorrelations@TEGNA.com. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. Pay is not commensurate with experience and talent. [52], On December 9, Tegna greenlit the series for an entire run for the 20162017 broadcast season. On average, employees at TEGNA stay with the company for 5.1 years. Factual Reporting: HIGH TEGNA Inc (TGNA) - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The Community Grant program serves to address local community needs. Overall, we rate 12 News KPNX Least Biased based on neutral wording and minimal editorial content. The filing comes less than a month after media attorney and consultant Adonis Hoffman withdrew himself from the bid to be nominated as a board member for Tegna, citing an incident where CEO Dave Lougee assumed he was a hotel valet, and also potential conflicts of interest. Standard General was founded in 2007 and manages capital for public and private pension funds, endowments, foundations, and high-net-worth individuals. Automotive advertising revenue rebounded in the quarter with strong year-over-year growth. TEGNA stockholders voted to approve the transaction at the special meeting of stockholders held on May 17, 2022. For Ad-Free Subscriptions go here: https://mediabiasfactcheck.com/membership-account/membership-levels/, Terms and Conditions Senior Vice President, Financial Planning & Analysis TEGNA Inc (TEGNA) is a provider of media services. Each such statement speaks only as of the day it was made. TEGNA Inc. (NYSE:TGNA) Q3 2020 Earnings Conference Call November 9, 2020 9:00 AM ET. As reported, our political revenues in 2020 were almost double that of 2018 and almost three times that of 2016, the prior presidential election year. The staff at TEGNA come from unusually diverse demographic backgrounds. [4][9][10], In September 2016, Tegna announced plans to spin off Cars.com to create two independent publicly traded companies. Tegna owns more than 60 local television stations in the U.S. and several other media properties. [11][12] Shortly after, Tegna completed the spin-off of Cars.com, which now trades under a new ticker symbol, CARS. enrollment in college or vocational school, political affiliation, veteran . 15% of TEGNA employees are Hispanic or Latino. One of the most dominant and far-reaching media companies in U.S. history just got even bigger, and there's a chance it could affect the way huge swaths of people get news but there's a good. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Does the media have a liberal bias? Stations are listed alphabetically by state and city of license. We are a drug free, EEO employer committed to a diverse workforce. These risks, uncertainties and other factors include, but are not limited to, those discussed under "Risk Factors" in the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2022, including the following: (1) the timing, receipt and terms and conditions of any required governmental or regulatory approvals of the proposed transaction between TEGNA and affiliates of Standard General and the related transactions involving the parties to the proposed transaction that could reduce the anticipated benefits of or cause the parties to abandon the proposed transaction, (2) risks related to the satisfaction of the conditions to closing the proposed transaction (including the failure to obtain necessary regulatory approvals), and the related transactions involving the parties to the proposed transaction, in the anticipated timeframe or at all, (3) the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the Companys common stock, (4) disruption from the proposed transaction could make it more difficult to maintain business and operational relationships, including retaining and hiring key personnel and maintaining relationships with the Companys customers, vendors and others with whom it does business, (5) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement entered into pursuant to the proposed transaction or of the transactions involving the parties to the proposed transaction, (6) risks related to disruption of managements attention from the Companys ongoing business operations due to the proposed transaction, (7) significant transaction costs, (8) the risk of litigation and/or regulatory actions related to the proposed transaction or unfavorable results from currently pending litigation and proceedings or litigation and proceedings that could arise in the future, (9) other business effects, including the effects of industry, market, economic, political or regulatory conditions, and (10) information technology system failures, data security breaches, data privacy compliance, network disruptions, and cybersecurity, malware or ransomware attacks. When used in this communication, the words "believes," "estimates," "plans," "expects," "should," "could," "outlook," and "anticipates" and similar expressions as they relate to the Company or its management are intended to identify forward-looking statements. 1998 - 2023 Nexstar Media Inc. | All Rights Reserved. Gannett Company spun-off most of its internet media properties to Tegna. Unaudited, in thousands of dollars (except per share amounts), Business units - Selling, general and administrative expenses, Corporate - General and administrative expenses, Spectrum repacking reimbursements and other, net, Equity loss in unconsolidated investments, net, Net income attributable to redeemable noncontrolling interest. On track to complete proposed acquisition by an affiliate of Standard General in the second half of 2022, subject to regulatory approvals and customary closing conditions TYSONS, Va., November 09,. WTHR in Indianapolis is looking for a talented and experienced sports anchor and multi-skilled journalist to join the 13Sports team in an extremely competitive sports market. Debmar-Mercury, however, is not participating in the production run, being replaced by independent company Flow Media Partners. Good luck, the letter concluded. Will Become Nations Largest Minority-Owned, Woman-Led Broadcast Group. Exposing corruption and wrongdoing, holding elected officials and those in power accountable, giving a voice to the voiceless and telling empowering stories that impact our lives is at the heart of our purpose to serve the greater good. Tegna owns or operates 66 television stations in 54 markets, and holds properties in digital media. TEGNA also owns leading multicast networks True Crime Network, Twist and Quest. Record subscription revenue of $1.5 billion was up four percent year-over-year, driven by rate increases and partially offset by subscriber declines. With 49 television stations and two radio stations in 41 markets, TEGNA delivers relevant content and information to consumers across platforms. Do Democrats need a past superstar to hold the White House in 2024? Mr. Kim is supported by a diverse, highly experienced 17-person team, including seven investment professionals with over 120 years of collective investing experience. We are excited to partner again with Deb McDermott, who previously spearheaded the broadcast group at Media General, where Standard General was a principal shareholder. TEGNA Inc. (Tegna), and SCGI Holdings III LLC, an affiliate of Standard General L.P. (SCGI and Standard General), have filed applications to transfer control of Tegna and the licenses of 64 full-power television stations and two full-power radio stations from Tegna's current shareholders to SCGI. Privacy Policy / Your California Privacy Rights. On June 29, 2015, the Gannett Company split in two, specializing in print media and the other specializing in broadcast and digital media. 12news.com is the website for KPNX that covers news, sports, and weather. Standard General Julie Heskett In connection with the proposed transaction, the Company will file relevant materials with the U.S. Securities and Exchange Commission (the SEC), including a proxy statement on Schedule 14A. Doug Kuckelman - Head of Investor Relations. The company is 49.5% female and 39.7% ethnic minorities. TEGNA Inc. is a media company innovating in the digital age. Filtered Search, Enter your email address to subscribe to MBFC and receive notifications of new posts by email. Weighted average number of common shares outstanding: The company uses non-GAAP financial performance measures to supplement the financial information presented on a GAAP basis. (Press Release). Press Freedom Rating: MOSTLY FREE They state TEGNAs purpose is to serve the greater good of our communities. TEGNA Parties Democratic Party 87.5 % - Republican Party 12.5 % - Employee Political Donations Further, the website does not publish editorial commentary. The factors described above cannot be controlled by the Company. In terms of audience reach, Tegna is the largest group owner of NBC-affiliated stations, ahead of Hearst Television and Sinclair Broadcast Group, and the fourth-largest group owner of ABC affiliates, behind Hearst, the E. W. Scripps Company, and Sinclair. They state. Advertising and sponsored content generate revenue. TEGNA employees are most likely to be members of the Democratic Party. The factors described above cannot be controlled by the Company. Zippia gives an in-depth look into the details of TEGNA, including salaries, political affiliations, employee data, and more, in order to inform job seekers about TEGNA. [27], On May 6, 2019, it was reported that Tegna was going to acquire the 85% of the Justice Network and Quest from Cooper Media that it did not own already for $77 Million to close by the end of the second quarter. Founded in 1953, 12 News KPNX is an NBC affiliate based in Phoenix, Arizona. Dave Lougee, President and CEO of TEGNA, said, This transaction is the next step in TEGNAs evolution and recognizes the value of our portfolio of leading broadcast assets and innovative digital brands. TEGNA also owns leading multicast networks True Crime Network and Quest. As part of the separation, the company announced that the broadcasting and digital company would be named Tegnaa partial anagram of "Gannett". Cooper Media's president and general manager Brian Weiss transferred to Tegna and continue managing the two networks. That is where the problem is and will remain unless exposed. The largest donation made to a political party by a TEGNA employee was by Richard Moody. [3] [4] It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. The largest donation made to a political party by a TEGNA employee was This communication includes forward-looking statements within the meaning of the "safe harbor" provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this communication, the words believes, estimates, plans, expects, should, could, outlook, and anticipates and similar expressions as they relate to the Company or its management are intended to identify forward looking statements. Years at Gannett/Tegna: 31 Positions in that time: Assistant treasury, vice president in the treasury group, vice president of investor relations, chief financial officer, president and chief . 703-873-6366 Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. The 11 markets renewed cover . "[40][41][42] In 2021, Standard General once again put forward nominees to Tegna's board of directors, alleging that the company was underperforming and had issues with diversity, equity, and inclusion; the latter came after a Black nominee put forward by Standard General withdrew, citing a previous incident involving CEO Dave Lougee in 2014. J.P. Morgan Securities LLC is acting as lead financial advisor, with Greenhill & Co. also acting as a financial advisor to TEGNA, and Wachtell Lipton Rosen & Katz and Covington & Burling LLP are acting as its legal advisors. The filing comes against the backdrop of a proxy battle between Tegna and Standard General, a hedge fund that owns a 7 percent stake in Tegna, according to, The filing comes less than a month after media attorney and consultant Adonis Hoffman. In general, the news is reported factually and with minimal bias. TEGNA also owns leading multicast networks True Crime Network and Quest. . enrollment in college or vocational school, political affiliation, veteran . Good health benefits and great PTO. The company, which will retain the Tegna name, will be controlled by an affiliate of Standard General, with Standard Media CEO Deb McDermott (who previously led Young Broadcasting and Media General) becoming CEO. THE COMPANY URGES YOU TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE PROPOSED TRANSACTION AND RELATED MATTERS. interests.[49]. Management and the companys Board of Directors use non-GAAP financial measures for purposes of evaluating company performance. Investors also will be able to obtain a free copy of the proxy statement and other documents (when available) filed by the Company with the SEC by accessing the Investors section of the Companys website at http://tegna.com. Locked On Scores a Record Year Locked On Podcast Network, which provides in-depth local coverage of every NBA, NFL, MLB and NHL team plus major college sports teams, grew its total audience by 89 percent in 2022 and delivered more than 217 million podcast listens and views across platforms. TEGNA Inc. (NYSE: TGNA) today announced financial results for the second quarter ended June 30, 2022. . TEGNA Inc. is a proud equal opportunity employer. Does Mexico want to be the next Nicaragua? [8] The two companies, however, continued to share a headquarters complex. This page was last edited on 4 March 2023, at 07:53. Andy Brimmer/Jamie Moser Interest expense decreased to $44 million compared to $46 million in the fourth quarter of 2021 due to lower average debt of $3.1 billion, resulting in net leverage of 2.44x. The purchase includes the WBNS television (CBS affiliate WBNS-TV) and radio (WBNS (AM) and WBNS-FM) stations in Columbus, the Ohio News Network, and NBC affiliate WTHR television in Indianapolis. TEGNA Employee Political Affiliation TEGNA employees are most likely to be members of the Democratic Party. Under the terms of the definitive merger agreement, in addition to receiving $24.00 per share, TEGNA shareholders will receive additional cash consideration in the form of a ticking fee of $0.00167 per share per day (or $0.05 per month) if the closing occurs between the 9- and 12-month anniversary of signing, increasing to $0.0025 per share per day (or $0.075 per month) if the closing occurs between the 12- and 13-month anniversary of signing, $0.00333 per share per day (or $0.10 per month) if the closing occurs between the 13- and 14-month anniversary of signing, and $0.00417 per share per day (or $0.125 per month) if the closing occurs between the 14- and 15-month anniversary of signing. Robert Dickey who led Gannett's newspaper group would continue as CEO of the company as a sole newspaper publisher, leaving the former broadcasting and digital operations under the leadership of Gracia Martore.