TEGNA owns and operates ABC affiliates in nine markets across the country . VERIFY Extends Reach in 2022 Unique visitors to VERIFYThis.com, TEGNAs national fact-checking brand dedicated to combating misinformation, increased sequentially each quarter in 2022, attracting more than 12 million visitors overall. In review, 12 News KPNX reports local news primarily through TV news video and accompanying text. The Company undertakes no obligation to update or to revise any forward-looking statements. The transaction has an equity value of approximately $5.4 billion and an enterprise value of approximately $8.6 billion, including the assumption of debt. It also provides operational services to another Fox affiliate, WUPW in Toledo, through a shared services agreement with that station's owner American Spirit Media (agreements that were carried over from WTOL's previous ownership; ASM had acted in a similar capacity with several stations). The Company undertakes no obligation to update or to revise any forward-looking statements. The employee data is based on information from people who have self-reported their past or current employments at TEGNA. Owned by Sander Media from 2013 to 2015 and operated by Gannett/Tegna prior to its acquisition by Tegna Inc. in 2015. [38], Kim began to engage in a proxy fight, with Standard General proposing four nominations to Tegna's board of directors at its next shareholders' meeting in April. National and International news is provided by the Associated Press as well as other TEGNA TV stations. As part of the separation, the company announced that the broadcasting and digital company would be named Tegnaa partial anagram of "Gannett". TEGNA Inc. (NYSE:NYSE:TGNA) Q1 2021 Earnings Conference Call May 10, 2021 9:00 AM ETCompany ParticipantsDoug Kuckelman - Head of Investor RelationsDave Lougee - President and CEOVictoria. 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. The reporting is factual and usually sourced. Dear Mediacom Customer, As you may be aware, Tegna has been blocking Mediacom customers from watching the local broadcast stations it owns since December 31st. Hopefully, your team can look into this and get Tegna cleaned up from the top. The "new" Gannett inherited old Gannett's longtime ticker symbol, GCI. We have made significant progress in recent years, but our record is not perfect, the spokesperson said in an emailed statement. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. An obvious source for the justification is recent news. Also after closing, Premion is expected to operate as a standalone business majority owned by Cox Media Group and Standard General. Involved in the Gannett Company's 1997 station trade deal with. "[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. Free cash flow3 was $297 million for the quarter. Have you worked at TEGNA? TEGNA has great employee retention with staff members usually staying with the company for 5.1 years. That is where the problem is and will remain unless exposed. 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,. (AMS) revenues, which include local and national non-political television advertising, digital marketing services (including Premion), and advertising on stations' websites, tablet and mobile products and OTT apps; 3) political . [17] Tegna would be the charter station group as such would receive a minority stake in the network, which launched in January 2018. The company also believes these non-GAAP measures are frequently used by investors, securities analysts and other interested parties in their evaluation of our business and other companies in the broadcast industry. [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. 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. 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. This swot analysis features 13 companies, including Charter Communications Inc, Gray Television Inc, Comcast Corp, The E. W. Scripps Co, Google LLC, Meta Platforms Inc 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. We tell stories that matter, are an advocate for those in need and help bring positive change to our communities. See all Least Biased Sources. 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. $2,850 to the Democratic Party. Dave Lougee is President/CEO at Tegna Inc. See Dave Lougee's compensation, career history, education, & memberships. As a result of the pending transaction and as previously announced, TEGNA expects to continue to pay its regular quarterly dividend through the closing of the transaction, but has suspended share repurchases under our previously announced share repurchase program. Right Bias: How we rate the bias of media sources. Media Bias Chart (PDF version) Interactive Chart Centrist News ABC News Associated Press BBC News CBS News 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. [19], On December 18, 2017, Tegna announced it would acquire KFMB-AM-FM-TV in San Diego from Midwest Television, Inc. for $325 million, pending approval from the Federal Communications Commission. 14% of TEGNA employees are Black or African American. 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. Total company Adjusted EBITDA2 was a record of $1.1 billion, representing an increase of 19 percent compared to 2021 driven by high-margin political and subscription revenues, as well as ongoing cost management to ensure efficient operations. These achievements are a credit to the hard work of TEGNAs dedicated employees, who are the Companys most valuable asset. THE HILL 1625 K STREET, NW SUITE 900 WASHINGTON DC 20006 | 202-628-8500 TEL | 202-628-8503 FAX. TEGNA Inc (TGNA) - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. Following the close of the transaction, TEGNA stations in Austin (KVUE), Dallas (WFAA and KMPX) and Houston (KHOU and KTBU) are expected to be acquired by Cox Media Group (CMG) from Standard General. Despite its diversity in other areas, TEGNA employees are noticeably lacking in political diversity. MBFC Credibility Rating: HIGH CREDIBILITY. They state TEGNAs purpose is to serve the greater good of our communities. We are a drug free, EEO employer committed to a diverse workforce. Factual Reporting: HIGH This is 2021, yet the roots of racist behavior within Tegna/Gannett are ugly and run deep. Also, our non-GAAP measures may not be comparable to similarly titled measures of other companies. It operates approximately 64 television stations in over 51 United States markets and owns four network affiliates in approximately 25 markets among independent station groups, reaching approximately 39 % of all television households nationwide. TEGNA also delivers innovative and unparalleled solutions for advertisers through TEGNA Marketing Solutions (TMS). 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). Tegna Inc. is a media company engaged in providing stories, investigations and marketing services. in preparation forTegnas annual shareholders meeting scheduled for May 7. Cofactor Digital (ShopLocal) On December 15, 2016, sold Cofactor to Liquidus, a digital marketing solutions company. [45], On February 22, 2022, Tegna announced that it had agreed to be taken private by a group led by Standard General and Apollo Global Management for $24 per-share, valuing the company at $5.4 billion. They state. 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. Media Type: TV Station Auto advertising saw sequential improvement throughout the year finishing with strong growth in the fourth quarter. 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. 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. Does the media have a liberal bias? Employees at the parent company, TEGNA, earn $56,684. 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. 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 . 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. Being a big, bold thinker/innovator and at times, disruptor, for the station. Sunday shows preview: US-China relations remain on shaky ground, 2024 election looms. TEGNA employees are most likely to be members of the Democratic Party. Tegna also retained G/O Digital, a digital marketing services brand that it launched in August 2013, and the 20 broadcast stations it acquired from Belo Corporation in December 2013 and the six stations it acquired from London Broadcasting Company in July 2014. Standard General is a minority-controlled and operated organization. TEGNAs employees deserve tremendous credit for their commitment to serving our viewers with high-quality news and content that informs and supports our local communities. Furthermore, the Leadership Development and Compensation Committee of our Board of Directors uses non-GAAP measures such as Adjusted EBITDA, non-GAAP net income, non-GAAP EPS, and free cash flow to evaluate managements performance. [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. Richard Moody donated $2,850 to the Democratic Party. The most common ethnicity at TEGNA is White (60%). Forward-looking statements are based on a number of assumptions about future events and are subject to various risks, uncertainties and other factors that may cause actual results to differ materially from the views, beliefs, projections and estimates expressed in such statements. [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." A newSecurities and Exchange Commission (SEC) filingconcerningTegna includesaccusations of broad pattern of bias and racially-insensitive behavior that were shared with the media company by its largest active shareholder. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Cautionary Statement Regarding Forward-Looking Statements. In Q4, Locked On set a quarterly record with a total audience of more than 66 million listens and views. Total company revenue was a record $3.3 billion, up ten percent year-over-year, driven by strong growth in political revenue and record subscription revenue despite AMS revenue declines as a result of political displacement and macroeconomic headwinds. 12news.com is the website for KPNX that covers news, sports, and weather. The staff at TEGNA come from unusually diverse demographic backgrounds. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. [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. [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. Funding. Gannett Company spun-off most of its internet media properties to Tegna. Reconciliations of certain line items impacted by special items to the most directly comparable financial measure calculated and presented in accordance with GAAP on the company's Consolidated Statements of Income follow: (a) Per share amounts do not sum due to rounding. The new agreement includes full carriage of the FOX broadcast network . Apple tops ranking of global companies with the most 'green' revenue, UPDATE 2-North Korea says UN should demand end to S.Korea-US military drills, US Treasury puts cost of outbound investment risk program at $10 million, US Jobs Report and Powell Testimony Take Center Stage: Eco Week, Bond Mavens Favor Curve Wagers for Next Encounter With Jobs Data. TEGNA Employees Receive Industry Honors TEGNA employees received industry honors, including Boyd Huppert, reporter at KARE and TEGNAs chief storytelling coach, who is receiving a Lifetime Achievement Award from the Radio Television Digital News Foundation. 1998 - 2023 Nexstar Media Inc. | All Rights Reserved. WHEC-TV's frequency was shared with WVET-TV, owned by Veterans Broadcasting, from its 1953 sign-on until 1961 when Gannett purchased full ownership of the frequency. enrollment in college or vocational school, political affiliation, veteran . Again, the wording is low biased such as this: What Arizona lawmakers have to say about Wednesdays Iran briefing. Automotive advertising revenue rebounded in the quarter with strong year-over-year growth. We are a drug free, EEO employer committed to a diverse workforce. 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. TEGNA stockholders voted to approve the transaction at the special meeting of stockholders held on May 17, 2022. TEGNA Parties Democratic Party 87.5 % - Republican Party 12.5 % - Employee Political Donations Our hard work has built a company that is a leading and trusted local news and media content provider in the markets it serves and has fostered a culture of diversity and inclusiveness. Political revenue was a second quarter record of $51 million up 53 percent from 2018, the . 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. It owns: Stations are arranged in alphabetical order by state and city of license. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. 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. Ad-Free Sign up Advertising and sponsored content generate revenue. TEGNA Inc (TGNA) - Strategy, SWOT a WBNS-TV, Central Ohio's News Leader, seeks a passionate, ambitious Anchor/Reporter to join our team. For Ad-Free Subscriptions go here: https://mediabiasfactcheck.com/membership-account/membership-levels/, Terms and Conditions TEGNA Employee Political Affiliation TEGNA employees are most likely to be members of the Democratic Party. Research Summary. However, the distorted picture of Tegna and its stations painted by Standard General to advance its ill-conceived proxy fight will not distract from our significant focus on DE&I [diversity, equity and inclusion] as well as our strong financial performance.. [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. [3] [4] It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies. The largest donation made to a political party by a TEGNA employee was Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. They specifically cited statements by Standard General regarding plans for a Washington, D.C. bureau to produce content for local newscasts, and arguing that Tegna's stations had "too many employees". A syndicate of banks led by RBC Capital Markets will provide debt financing. 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. One of the most prominent Tegna Digital properties. Andy Brimmer/Jamie Moser Tegna also owns three digital multicast networks (True Crime Network, Quest, and Twist). TEGNA Inc. (NYSE: TGNA) today announced financial results for the second quarter ended June 30, 2022. . JAKES" SET TO PREMIERE MONDAY, SEPTEMBER 12, 2016 TEGNA", "Exclusive: Tegna's 'BOLD' to Be Renamed 'Daily Blast Live', Tegna, TV One to Launch Daily Talk Show Sister Circle, TEGNA Announces Sing Like a Star, New Singing Competition Premiering September 16, "NATPE Roundup: Fox TV Stations Renew 'Page Six TV,' Sony Pictures TV Teams With Tegna", "How This New Platform Plans to Make Buying Ads on Streaming Services Easier", http://investors.tegna.com/news-releases/news-release-details/tegna-acquires-leading-local-sports-podcast-network-locked, https://awfulannouncing.com/podcasts/tegna-acquires-locked-on-podcast-network.html, "Meredith Buying Three Stations From Gannett", "Meredith Corp. closes on $177million purchase of KMOV", https://en.wikipedia.org/w/index.php?title=Tegna_Inc.&oldid=1142769168, Defunct, went silent in 1954, frequency now used by. Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. The factors described above cannot be controlled by the Company. Jakes' Talk Show This Summer With 44 Blue Productions, TDJ Enterprises and Enlight Productions TEGNA", "EMPOWERING NEW DAILY TALK SHOW "T.D. (adsbygoogle = window.adsbygoogle || []).push({}); Ad-Free Login TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Like Adjusted EBITDA, free cash flow is not intended to be a measure of cash flow available for managements discretionary use. The data presented on this page does not represent the view of TEGNA and its employees or that of Zippia. [15] In June 2017, Tegna announced it had entered into a definitive agreement, together with the other owners of CareerBuilder, to sell CareerBuilder to an investor group led by investments funds managed by affiliates of Apollo Global Management and the board of the Ontario Teachers Pension Plan. After evaluating this opportunity against TEGNAs standalone prospects and other strategic alternatives, our Board concluded that this transaction maximizes value for TEGNA shareholders. Each such statement speaks only as of the day it was made. The show, titled T.D. 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. Tegna owns or operates 68 television stations located in 54 markets (including fourteen duopolies); it also owns two radio stations in Columbus, Ohio. We look forward to building on the Companys strong foundation and leveraging Debs deep industry experience to drive further growth.. 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. [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. Our estimates are verified against BLS, Census, and current job openings data for accuracy. Since 2020, advertising trends have seen significant broad-based strength across all advertising categories, except auto and insurance in this two-year comparison. 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. Posted: March 02, 2023. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. Fourth quarter Adjusted EBITDA was down 16 percent compared to the fourth quarter of 2020 reflecting reduced political revenue from the presidential election and the two Georgia Senate runoffs, partially offset by growth in subscription revenue. You can obtain free copies of these documents from the Company using the contact information above. For the trailing two-year period ending December 31, 2022, free cash flow as a percentage of revenue was 21.8 percent. by Richard Moody. (M. Huitsing 01/12/2020) Updated (03/21/2022), Last Updated on March 21, 2022 by Media Bias Fact Check, Left vs. Based on our research, similar companies to TEGNA are ION Media Networks, Discovery, and Univision Holdings, Inc. 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.