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. [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. TEST POSITION-DO NOT APPLY Job in Phoenix, AZ at Tegna [35] On October 18, Dish Network filed a complaint with the Federal Communications Commission against Tegna. The company believes that such expenses and gains are not indicative of normal, ongoing operations. The transaction was unanimously approved by the TEGNA Board. In regards to other rumored offers from Byron Allen and religious broadcaster TBN (the latter in partnership with Jahm Najafi), the company stated that "the other two parties have not signed confidentiality agreements to enable due diligence and have not delivered any information on financing sources". About TEGNA. Julie Heskett Tysons, Va. and New York TEGNA Inc. (NYSE: TGNA) and Standard General L.P. today announced that TEGNA and an affiliate of Standard General have entered into a definitive agreement under which TEGNA will be acquired by the Standard General affiliate for $24.00 per share in cash. Have you worked at TEGNA? [14], Prior to the company's completion of the spin-off of Cars.com, it was reported by DealReporter that Nexstar Media Group may be considering a bid to acquire Tegna. 1 "Pro forma" reflects our 2019 acquisitions of certain television stations divested by Gray, Dispatch, Nexstar and Tribune as if they had been completed on January 1, 2018. TEGNA Inc. - 2020 Annual Report Letter To Shareholders Dear Fellow Shareholders, TEGNA's purpose is to serve the greater good of our communities through empowering stories, impactful investigations and innovative marketing services. Email from Mediacom about Tegna stations : Iowa - reddit Sard Verbinnen & Co. [3] [4] It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies. Political revenue was a record for a non-presidential election year at $341 million, up 21 percent from 2018 on a pro forma basis1. Advertising and sponsored content generate revenue. We have made significant progress in recent years, but our record is not perfect, the spokesperson said in an emailed statement. About TEGNA. In October 2022, Chair of the House Energy and Commerce Committee Frank Pallone and Speaker of the House Nancy Pelosi issued a letter to the FCC expressing concerns for the transaction, arguing that it "would violate the FCC's mandate by restricting access to local news coverage, cutting jobs at local television stations, and raising prices on consumers." Conservative companies - Conservapedia The "new" Gannett inherited old Gannett's longtime ticker symbol, GCI. TEGNA has renewed retransmission consent agreements representing approximately 30 percent of our subscribers since our prior quarterly release on November 9, 2022. We are a drug free, EEO employer committed to a diverse workforce. Non-GAAP expenses less Premion costs increased two percent from 2021, driven primarily by programming expenses. For more information, visitwww.TEGNA.com. interests.[49]. Posted: March 02, 2023. Sunday shows preview: US-China relations remain on shaky ground, 2024 election looms. The factors described above cannot be controlled by the Company. On February 22, 2022, TEGNA Inc. and Standard General L.P. announced that TEGNA and an affiliate of Standard General entered into a definitive agreement under which TEGNA will be acquired by the Standard General affiliate for $24.00 per share in cash. 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.". Anne Bentley This earnings release also discusses free cash flow, a non-GAAP performance measure that the Board of Directors uses to review the performance of the business. TEGNA Inc. Reports Third Quarter 2022 Results Media Type: TV Station [50][21] Twenty-two of the company's stations are affiliated with NBC (including one digital subchannel of KBMT and two semi-satellites of KCEN-TV and WCSH), fifteen are affiliated with CBS, thirteen are affiliated with ABC, and six are affiliated with Fox. Deb McDermott is an experienced and accomplished broadcast executive, and we are confident in TEGNAs future under her leadership., Ms. McDermott commented, I am honored to lead TEGNAs team to create new opportunities and build on its heritage and successes achieved under Daves leadership. Following the close of the transaction, Deb McDermott will become CEO and Mr. Kim will serve as Chairman of a new Board. 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. 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,. TEGNA Employees Give Back to Their Local Communities During 2022, TEGNA employees gave back to their local communities by volunteering and donating to their favorite causes. Non-GAAP operating expenses less programming and Premion costs were down one percent compared to the fourth quarter of 2021. Total cash at the end of the quarter was $552 million. Shark Tanks Kevin OLeary blasts Ocasio-Cortez: She kills jobs by the Manchin indicates opposition to Biden lands nominee over internal memo, Michael Steele on Marjorie Taylor Greene: Just shut the hell up, Watch live: White House monkeypox response team holds briefing, Do Not Sell or Share My Personal Information. For Ad-Free Subscriptions go here: https://mediabiasfactcheck.com/membership-account/membership-levels/, Terms and Conditions Job Details. Hopefully, your team can look into this and get Tegna cleaned up from the top. TEGNA Inc. (TGNA) Up 0.8% Since Last Earnings Report: Can It Continue? Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. TEGNA owns and operates ABC affiliates in nine markets across the country . Company Participants. TEGNA Inc. Reports Fourth Quarter and Full-Year 2022 Results Where do news sources fall on the political bias spectrum? - "Fake News [31], In December 2019, Tegna agreed to sell KFMB-AM-FM to Local Media San Diego for $5 million;[32] the sale was completed on March 17, 2020. You may also find additional information about the Companys directors and executive officers in the Companys definitive proxy statement for its 2021 annual meeting of stockholders, which was filed with the SEC on March 26, 2021 and in subsequently filed Current Reports on Form 8-K, Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Tegna Inc. (stylized in all caps as TEGNA) is an American publicly traded broadcast, digital media and marketing services company headquartered in Tysons Corner, Virginia. The company defines Adjusted EBITDA as net income attributable to TEGNA before (1) net income attributable to redeemable noncontrolling interest, (2) income taxes, (3) interest expense, (4) equity loss in unconsolidated investments, net, (5) other non-operating items, net, (6) M&A-related costs, (7) advisory fees related to activism defense, (8) spectrum repacking reimbursements and other, net, (9) depreciation and (10) amortization. TEGNA achieved net income of $219 million on a GAAP basis, or $221 million on a non-GAAP basis. It has an unusually high proportion of employees who are members of the Democratic Party, at 87.0%. Total company Adjusted EBITDA2 was $361 million, representing an increase of 47 percent compared to the fourth quarter of 2021. The Company undertakes no obligation to update or to revise any forward-looking statements. [20] The acquisition was completed on February 15, 2018. On February 22, 2022, TEGNA Inc.and Standard General L.P. announcedthat TEGNAand an affiliate of Standard General entered into a definitive agreement under which TEGNAwill be acquired by the Standard General affiliate for $24.00per share in cash. Free cash flow is reviewed by the Board of Directors as a percentage of revenue over a trailing two-year period (reflecting both an even and odd year reporting period given the political cyclicality of the business). Founded in 1953, 12 News KPNX is an NBC affiliate based in Phoenix, Arizona. TEGNA is ranked #13 on the Best Media Companies to Work For in Virginia list. 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 factors described above cannot be controlled by the Company. [11][12] Shortly after, Tegna completed the spin-off of Cars.com, which now trades under a new ticker symbol, CARS. TEGNA Inc. (TGNA) CEO Dave Lougee on Q1 2021 Results - SeekingAlpha [17] Tegna would be the charter station group as such would receive a minority stake in the network, which launched in January 2018. Help us make this company more transparent. AMS revenue was $353 million in the fourth quarter, down 12 percent year-over-year due to displacement driven by strong political revenue, continued macroeconomic headwinds, and reduced sports betting advertising with fewer new market launches this year versus the prior year. Claiming and updating your company profile on Zippia is free and easy. Affiliates of AGM, as well as Cox Media Group (which is principally owned by AGM, with Cox Enterprises as a minority shareholder) and other investors, will hold non-voting shares in the company. by Richard Moody. Tegna owns more than 60 local television stations in the U.S. and several other media properties. On February 22, 2022, TEGNA Inc. and Standard General L.P. announcedthat TEGNA and an affiliate of Standard General entered into a definitive agreement under which TEGNA will be acquired by. WDAN-TV changed call letters to WICD following its sale, and in 1967 was merged with WCHU (channel 33) in Champaign into the present-day. 12 News KPNX is owned and operated by TEGNA Inc., which operates 66 television stations in 54 markets. In review, 12 News KPNX reports local news primarily through TV news video and accompanying text. TEGNA and FOX Renew Affiliation Agreement - foxcorporation Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. All plans give access to our growing exclusive content! Tegna Inc. (stylized in all caps as TEGNA) is an American publicly traded broadcast, digital media and marketing services company headquartered in Tysons Corner, Virginia. Other major sources include 2ndVote, a research provider that scores companies from 5 (most conservative) to 1 (most liberal), and OpenSecrets, an online database that tracks political donations in the U.S. investorrelations@TEGNA.com. The employee data is based on information from people who have self-reported their past or current employments at TEGNA. Because of this, WHEC-TV and WDAN-TV are the only television stations built from the ground-up by Gannett. One of the most prominent Tegna Digital properties. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Does Mexico want to be the next Nicaragua? We remain committed to ensuring that Tegna effectively serves and represents all of our communities., Other alleged incidents in the letter include Black and Latino on-air talent being hammered for their dialect and a marketing executive promoting the use of purple graphics that African American audiences might enjoy.. Factual Reporting: HIGH 12news.com is the website for KPNX that covers news, sports, and weather. Compared to 2020, Adjusted EBITDA was up 11 percent reflecting growth in AMS and subscription revenues, partially offset by reduced high-margin political revenue due to the absence of presidential advertising spending. They state. [7] The spin-out was structured so that "old" Gannett changed its name to Tegna, Inc., then spun off its newspaper holdings into a "new" Gannett. These are the most credible media sources. TEGNA also delivers innovative and unparalleled solutions for advertisers through TEGNA Marketing Solutions (TMS). Our estimates are verified against BLS, Census, and current job openings data for accuracy. Ms. McDermott currently serves as CEO of Standard Media and has more than 20 years of experience leading broadcast groups, including previously serving as COO of Media General and as CEO and President of Young Broadcasting. With 49 television stations and two radio stations in 41 markets, TEGNA delivers relevant content and information to consumers across platforms. 12news.com is the website for KPNX that covers news, sports, and weather. 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. As community needs differ by region, please check with your local Community Grant contact to learn what needs are being addressed in your area. How Gracia Martore went on the offensive at Gannett and Tegna VERIFY has 385,000 followers across its dedicated channels. These achievements are a credit to the hard work of TEGNAs dedicated employees, who are the Companys most valuable asset. TEGNA INC MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-K) . TEGNA Inc. Reports Fourth Quarter and Full-Year 2022 Results [33], A carriage dispute with DirecTV, beginning on December 2, 2020, resulted in the removal of at least 60 Tegna stations in 51 markets, covering about 39% of TV homes, from the DirecTV, AT&T U-verse and AT&T TV streaming platforms. Unsurprisingly, Tom's and Seventh Generation jump to the top of left-leaning companies. TMS is a one-stop shop that helps businesses thrive through an unmatched suite of services and solutions that reach consumers across television, email, social and over-the-top (OTT) platforms, including Premion, TEGNA's OTT advertising service. TEGNA employees are most likely to be members of the Democratic Party. None of the information on this page has been provided or approved by TEGNA. [52], On December 9, Tegna greenlit the series for an entire run for the 20162017 broadcast season. 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. GAAP and non-GAAP earnings per diluted share were $0.97 and $0.98, respectively. Subsidiaries to TEGNA include Central Newspapers, Florida Today, and THV11. To serve the greater good of our communities. The company also discusses Adjusted EBITDA (with and without corporate expenses), a non-GAAP financial performance measure that it believes offers a useful view of the overall operation of its businesses. This position will report directly to the Regional Head of Technology and Operations. Stations streaming apps are a one-stop destination for local stories that matter and include local twenty-four-hour "Watch" streams, live local news, extended coverage, weather, station specials and investigations. Cofactor Digital (ShopLocal) On December 15, 2016, sold Cofactor to Liquidus, a digital marketing solutions company. We are a drug free, EEO employer committed to a diverse workforce. TEGNA may also be known as or be related to TEGNA, TEGNA Inc, TEGNA Inc., Tegna, Tegna Inc. and Tegna, Inc. TEGNA produces trusted, impactful and innovative content across platforms. In comparison, the salaries at Central Newspapers, Florida Today, and THV11 are $49,030, $43,214, and $40,711. The studio's first content would be true crime podcasts, drawing on its station news content. 12 News (KPNX) - Media Bias/Fact Check TEGNA Inc (TEGNA) is a provider of media services. Subscription revenue was a fourth quarter record of $372 million, up 11 percent year-over-year, due to rate increases, partially offset by subscriber declines and the comparison to the DISH disruption in 2021. 15% of TEGNA employees are Hispanic or Latino. Tegna shareholders approved an initial public offering of Cars.com as a publicly traded spin-off in May 2017. Richard Moody donated 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. These cable networks were owned by Belo prior to acquisition by Gannett/Tegna: "TEGNA" redirects here. 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. 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. TEGNA Inc. - 2020 Annual Report Good luck, the letter concluded. "TEGNA Leadership Team Board of Directors", "Gannett Dives Deeper Into Agency Business With 'G/O Digital', "Media Giant Gannett to Spin Off USA Today and Print Business", "Gannett to change name to TEGNA amid print unit spinoff", "Separation of Gannett into two public companies completed | TEGNA", "Gannett Completes London Broadcasting Buy", "Cars.com Spins Off From Parent TEGNA, Goes Through IPO", "Tegna Spins Off Cars.com; Lougee New CEO", "Report: Nexstar may eye bid for Tegna in stations buyout", "Apollo Global-led investor group to buy CareerBuilder", "Tegna, Cooper Media to Launch Quest Diginet", "Tegna Launching Quest, New Multicast Net, With Cooper", "Tegna And Cooper Media Plan Adventure-Themed Multicast Network Quest", "TEGNA to Acquire Midwest Television, Inc.'s Broadcasting Stations in San Diego, CA", "Tegna Completes KFMB San Diego Purchase", "Tegna, Scripps in Deals to Buy Network Affiliates", "Gray Spins Land With Lockwood, TEGNA, Scripps", "Tegna Debuts VAULT Studios, Uses TV Reporting To Create Digital Shows", "Nexstar Selling 19 TVs In 15 Markets For $1.32B", "Nexstar to Sell Stations to Tegna, Scripps for $1.32 Billion", "Tegna Acquires Multicast Networks Quest And Justice Network In $91M Deal", "Wolfe family sells broadcast group, including WBNS-10TV, for $535 million", "TEGNA Completes Acquisition of Dispatch Broadcast Group's Leading, Top Ranked Stations in Indianapolis, IN and Columbus, OH", "Local Media San Diego Acquires KFMB AM/FM", "Local Media San Diego Closes KFMB AM/FM Purchase; Sells 760 To iHeartMedia", "TV tussle: DirecTV, Tegna dispute turns TV channels dark in 51 markets including Houston, Seattle", "Tegna Local TV Stations Removed From Dish TV In 53 Markets Amid Carriage Fee Dispute", "DISH Files Bad Faith Complaint Against Tegna", "Local TV Giant TEGNA Sold to Private Equity Firms in Mega-Deal", "Tegna Confirms Two Acquisition Offers Withdrawn Amid Coronavirus Upheaval", "Lessons from TEGNA's Second Straight Proxy Fight Win", "Tegna wins proxy contest as investors re-elect all 12 board members", "TEGNA's Tit-For-Tat With Soo Kim Continues | Radio & Television Business Report", "The TEGNA/Soo Tussle Continues With Shareholder Letters | Radio & Television Business Report", "U.S. TV firm Tegna defeats hedge fund Standard General in proxy vote", "Tegna Wins Proxy Battle, With 12 Directors Re-Elected", "Tegna CEO Apologizes For Racial Incident That Led A Black Executive To Withdraw His Board Nomination", "WFAA and Houston, Austin TV stations expected to go to Cox Media in Tegna's $5.4 billion sale", "Radio Implications To Today's Standard General Acquisition of TEGNA", "Tegna Shareholders Approve Sale Of Broadcaster To Standard General, Apollo Global", "Nancy Pelosi Tells FCC She Has Concerns Over Local News Impact With Sale Of Tegna To Standard General", https://worldradiohistory.com/hd2/IDX-Business/Magazines/Archive-BC-IDX/87-OCR/BC-1987-12-07-OCR-Page-0094.pdf, "TEGNA Media and Debmar-Mercury Partner on Preview of 'T.D.
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