The most common ethnicity at TEGNA is White (60%). 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. Country: USA Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. One of the most prominent Tegna Digital properties. Advertising and sponsored content generate revenue. Tysons, Va. & Los Angeles, CA - October 28, 2019 TEGNA Inc. (NYSE: TGNA) and Fox Corporation (Nasdaq: FOXA, FOX) ("FOX") today announced a comprehensive, multi-year deal that renews station affiliation agreements for six TEGNA markets, including three stations acquired last month from Nexstar Media Group.. In 2015, Tegna Media test-ran a limited-run informative talk show hosted by Dallas-based bishop T. D. Jakes on its owned stations in Dallas, Atlanta, Minneapolis and Cleveland. For the former Swiss municipality, see, This article is about Tegna, formerly Gannett, as a broadcast and digital media company. 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. GAAP and non-GAAP operating income totaled $328 million and $331 million, respectively. Im very excited about what the future holds for TEGNA.. The information is 100% accurate and fairly easy to verify. TEGNA Q3 Earnings Lag Estimates, Revenues Rise Y/Y TEGNA's third-quarter 2022 non-GAAP earnings of 65 cents per share missed the Zacks Consensus Estimate by 9.72% but increased 12.1% on a year . In comparison, the salaries at Central Newspapers, Florida Today, and THV11 are $49,030, $43,214, and $40,711. Wrong-way driver stopped on I-10 Sunday morning, What Arizona lawmakers have to say about Wednesdays Iran briefing. The series debuted on September 12 on most, if not all Tegna-owned stations, as well as several large markets, including Baltimore (WMAR-TV), Detroit (WMYD), Orlando (WFTV/WRDQ), Chicago (WCIU-TV), San Antonio (KSAT-TV), and San Diego (KGTV). [53], T.D. These are the most credible media sources. Cautionary Statement Regarding Forward-Looking Statements. TEGNA Inc (TEGNA) is a provider of media services. Joele Frank, Wilkinson Brimmer Katcher 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. [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. TEGNA ended the quarter with total debt of $3.4 billion, producing net leverage of 3.39 times, more than a full turn below last year, achieving our previous full year guidance of low 3 times by. Despite its diversity in other areas, TEGNA employees are noticeably lacking in political diversity. When asked about the allegations, a company spokesperson said improving diversity, equity and inclusionat Tegna is a top priority for the company. AMS revenue was $1.4 billion, down five percent year-over-year due to displacement driven by strong political revenue and continued macroeconomic headwinds. As part of the separation, the company announced that the broadcasting and digital company would be named Tegnaa partial anagram of "Gannett". Management and the companys Board of Directors use non-GAAP financial measures for purposes of evaluating company performance. Andy Brimmer/Jamie Moser We are deeply gratified that TEGNAs new owners value and embrace our purpose to serve the greater good of our communities. Compared to 2020, AMS revenue was up 16 percent driven by increases in television and Premion advertising. This page was last edited on 4 March 2023, at 07:53. 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. For more information, visit www.TEGNA.com. We are a drug free, EEO employer committed to a diverse workforce. . Best Media Companies to Work For in Virginia, Best Media Companies to Work For in McLean, VA. Upon completion of the transaction, TEGNA will become a private company and its shares will no longer be traded on the New York Stock Exchange. Kim accepted the result of the vote, stating that the actions had helped to "[challenge] managements narrative about the Companys performance and seeking greater transparency about Tegnas numbers, acquisition metrics, and engagement with third parties. The sale was approved by Standard General and Apollo Global Management on May 17, 2022. "[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. Support MBFC Donations The company discusses in this release non-GAAP financial performance measures that exclude from its reported GAAP results the impact of "special items" consisting of spectrum repacking reimbursements and other, net, M&A-related costs, advisory fees related to activism defense, certain non-operating items such as expense related to the early extinguishment of debt, a gain on an available for sale investment, and a valuation gain from an investment and an impairment charge recorded for another investment. TEGNA also owns leading multicast networks True Crime Network and Quest. The 11 markets renewed cover . Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. The Company and certain of its directors, executive officers and employees may be considered to be participants in the solicitation of proxies from the Companys stockholders in connection with the proposed transaction. Additionally, the company announced that it would buy out the remainder of Classified Ventures (a joint venture between Tegna and several other media companies) for $1.8billion, giving it full ownership of properties such as Cars.com.[5][6]. 12news.com is the website for KPNX that covers news, sports, and weather. We believe TEGNA has a strong foundation and exciting prospects for continued growth as a result of the stewardship of the Board and the current management team. Based on our research, similar companies to TEGNA are ION Media Networks, Discovery, and Univision Holdings, Inc. The network saw over 800 million minutes of watch time in 2022, a 502 percent increase year-over-year. Additional Information and Where to Find It. Record subscription revenue of $1.5 billion was up four percent year-over-year, driven by rate increases and partially offset by subscriber declines. And as Reagan's son assumed, Apple, Google, and most other major tech companies side with Democrats too. 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. TEGNA INC MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-K) . MBFC Credibility Rating: HIGH CREDIBILITY. The most directly comparable GAAP financial measure to free cash flow is Net income attributable to TEGNA. 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. [3][4] It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies. 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. 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. Our purpose is to serve the greater good of our communities through empowering stories, impactful investigations and innovative marketing services. TEGNA also owns leading multicast networks True Crime Network, Twist and Quest. [52], On December 9, Tegna greenlit the series for an entire run for the 20162017 broadcast season. [54], Other shows Tegna Media has on first-run syndication across most of its stations are Sister Circle (also shown on cable network TV One),[55] and reality competition Sing Like A Star. The largest donation made to a political party by a TEGNA employee was Hopefully, your team can look into this and get Tegna cleaned up from the top. Moelis & Company and RBC are acting as financial advisor to Standard General and Fried Frank Harris Shriver & Jacobson LLP and Pillsbury Winthrop Shaw Pittman LLP are acting as its legal advisors. THE HILL 1625 K STREET, NW SUITE 900 WASHINGTON DC 20006 | 202-628-8500 TEL | 202-628-8503 FAX. Senior Vice President, Financial Planning & Analysis These achievements are a credit to the hard work of TEGNAs dedicated employees, who are the Companys most valuable asset. Sunday shows preview: US-China relations remain on shaky ground, 2024 election looms. Compared to 2020, fourth quarter AMS revenue was up slightly driven by strong growth in most categories including entertainment, services, and travel and tourism, partially offset by macroeconomic headwinds impacting, auto, insurance, and retail in this two-year comparison. The employee data is based on information from people who have self-reported their past or current employments at TEGNA. 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. Forward-looking statements in this communication may include, without limitation: statements about the potential benefits of the proposed acquisition, anticipated growth rates, the Companys plans, objectives, expectations, and the anticipated timing of closing the proposed transaction. Advertising and sponsored content generate revenue. The wages at ION Media Networks average higher than the other similar companies, where the median salary is $72,169 per year. [21], On August 20, 2018, Tegna agreed to purchase two stations spun off from the Gray Television-Raycom Media merger, CBS affiliate WTOL-TV in Toledo (the sale likely includes rights to an existing shared services agreement with American Spirit Media-owned Fox affiliate WUPW) and NBC affiliate KWES-TV in Odessa in order to alleviate ownership conflicts involving Gray's ownership of ABC affiliate WTVG in the Toledo market and CBS affiliate KOSA-TV in the Odessa market. Tegna owns or operates 68 television stations located in 54 markets (including fourteen duopolies); it also owns two radio stations in Columbus, Ohio. 15% of TEGNA employees are Hispanic or Latino. In Q4, Locked On set a quarterly record with a total audience of more than 66 million listens and views. 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. announced that TEGNA and an affiliate of Standard General entered into a definitive agreement under which TEGNA will be acquired. VERIFY has 385,000 followers across its dedicated channels. The company is 49.5% female and 39.7% ethnic minorities. In these roles, she has served as a key member of the leadership teams responsible for the successful acquisition, integration, and operation of more than 90 stations. Numerical coincidence prompted $754M Powerball winner to buy ticket: It was a sign, Texas GOP votes to censure Rep. Tony Gonzales over support on gun, same-sex legislation, Three things to know about what critics are calling Mississippis Jim Crow bill, Want to save the climate? Total cash at the end of the quarter was $552 million. Vice President, Corporate Communications 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. 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. Good health benefits and great PTO. TEGNA Employee Political Affiliation TEGNA employees are most likely to be members of the Democratic Party. Filtered Search, Enter your email address to subscribe to MBFC and receive notifications of new posts by email. TEGNA Inc. (NYSE: TGNA) today announced financial results for the second quarter ended June 30, 2022. . We have never been more certain of the importance of our role than we are today. TEGNA Inc. Reports Fourth Quarter and Full-Year 2022 Results What you need to know from Costco's earnings call TEGNA Inc. Reports Fourth Quarter and Full-Year 2022 Results February 27,. 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. [37] In March 2020, Tegna stated that it had turned down two acquisition offers by Gray Television and Apollo Global Management, stating that "these two parties made their proposals shortly before the recent market dislocation due to the COVID-19 pandemic and both subsequently informed Tegna that they were ceasing discussions." Job Details. TEGNAs stations have earned excellent reputations as leading local content providers, and TEGNAs digital and content assets are a key part of its future in an evolving media landscape. TEGNA stockholders voted to approve the transaction at the special meeting of stockholders held on May 17, 2022. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. 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. Involved in the Gannett Company's 1997 station trade deal with. 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. 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. 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. With 63 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network . Note that indicators of conservative interest can change suddenly. Several categories grew year-over-year such as entertainment, travel and tourism, services, and home improvement. 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. The company creates and delivers television programming and digital content, and information across various platforms. Tegna retained "old" Gannett's stock price history, though it trades under a new ticker symbol, TGNA. This is 2021, yet the roots of racist behavior within Tegna/Gannett are ugly and run deep. Thanks to the teams stellar execution of the Companys value-creation strategy, TEGNA has positioned itself as a leading broadcast television group serving the greater good of the communities in which we operate and as a private company will have an enhanced ability to keep evolving its local news, programming, and marketing solutions to serve its communities in a rapidly changing media landscape., Soo Kim, Founding Partner of Standard General, commented, As long-term investors in the television broadcasting industry, we have a deep admiration for TEGNA and the stations it operates and, in particular, for TEGNAs talented employees and their commitment to serving their communities. 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. In February, Tegna entered into a definitive agreement to be acquired by an affiliate of Standard General for $24 per share in cash and become a private company. Also, our non-GAAP measures may not be comparable to similarly titled measures of other companies. Right Bias: How we rate the bias of media sources. Anne Bentley After extensive research and analysis, Zippia's data science team found that: 50% of TEGNA employees are women, while 50% are men. TEGNA employees are most likely to be members of the Democratic Party. 12news.com is the website for KPNX that covers news, sports, and weather. The 20 markets renewed cover 17 percent of the U.S. audience and nearly 21 . For more information, visitwww.TEGNA.com. Jakes' Talk Show This Summer With 44 Blue Productions, TDJ Enterprises and Enlight Productions TEGNA", "EMPOWERING NEW DAILY TALK SHOW "T.D. abentley@TEGNA.com, George Sard/Andy Duberstein Political revenue was a record for a non-presidential election year at $341 million, up 21 percent from 2018 on a pro forma basis1. 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."
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