14% of TEGNA employees are Black or African American. Since 2020, advertising trends have seen significant broad-based strength across all advertising categories, except auto and insurance in this two-year comparison. [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. 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. KPNX also has a section dedicated to politics covering national politics through the Associated Press and local Arizona politics through 12 News TV. The average employee at TEGNA makes $56,684 per year. [29] The sale was approved by the FCC on July 29, 2019,[30] and was completed on August 8. Standard General is a minority-controlled and operated organization. The allegations in Thursdays filing were made in a six-page, single-spaced letter given to shareholder Standard General, which in turn shared them with Tegna. [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 staff at TEGNA come from unusually diverse demographic backgrounds. Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. The most common ethnicity at TEGNA is White (60%). [4][9][10], In September 2016, Tegna announced plans to spin off Cars.com to create two independent publicly traded companies. TEGNA TGNA and Comcast's CMCSA NBC recently announced the extension of their partnership by signing a multi-year deal to renew station affiliation agreements for 20 TEGNA markets in the United . We are a drug free, EEO employer committed to a diverse workforce. In June 2015, Gannett spun off its broadcasting division. 1998 - 2023 Nexstar Media Inc. | All Rights Reserved. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. GAAP operating expenses were $589 million, up four percent year-over-year, and non-GAAP operating expenses were $587 million, up four percent year-over-year, with the increases predominantly driven by investments in Premions growth and programming costs. TEGNA Inc. is a proud equal opportunity employer. Jakes ended in September 2017 and was replaced with news and entertainment show Daily Blast Live, which premiered on September 11, 2017. 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. 703-873-6747 These cable networks were owned by Belo prior to acquisition by Gannett/Tegna: "TEGNA" redirects here. 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. The station needs an outstanding talent to bring viewers to the biggest sporting events in Indiana including extensive coverage of the . Each such statement speaks only as of the day it was made. 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. When asked about the allegations, a company spokesperson said improving diversity, equity and inclusionat Tegna is a top priority for the company. Watch live: Trump, Bolsonaro and more take the stage on Day 3 of CPAC, Twitter discloses another possible government censorship effort. 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". 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. Help other job seekers by rating TEGNA. Right Bias: How we rate the bias of media sources. 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. [52], On December 9, Tegna greenlit the series for an entire run for the 20162017 broadcast season. 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. The Company undertakes no obligation to update or to revise any forward-looking statements. Sard Verbinnen & Co. TEGNA competitors include Kshb / Kmci / The Ew Scripps Company, Sinclair Broadcast Group, ION Media Networks, KEYE-TV, Florida Today, Central Newspapers, Discovery, WTOL 11, WWE, Weigel Broadcasting Co., WTKR News 3, Nexstar Media Group, Ksdk-tv Newschannel 5, WBRZ, Univision Holdings, Inc., Calkins Media Incorporated, WPTV, WATE 6 On Your Side, WBNG TV 12, KSBW. TEGNA Inc (TEGNA) is a provider of media services. 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. investorrelations@TEGNA.com. [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. In comparison, some of its highest paying competitors, like. [3][4] It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies. [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. 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. GAAP and non-GAAP earnings per diluted share were $0.97 and $0.98, respectively. Local information is presented with minimally loaded wording such as this: Wrong-way driver stopped on I-10 Sunday morning. The average employee at TEGNA makes $56,684 per year. (Press Release). 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. Despite its diversity in other areas, TEGNA employees are noticeably lacking in political diversity. In general, the news is reported factually and with minimal bias. 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 . One of the most prominent Tegna Digital properties. 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. NEW YORK and TYSONS, Va., June 6, 2019 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) and TEGNA Inc. (NYSE: TGNA) today announced a comprehensive, multi-year deal that renews station affiliation agreements for 11 TEGNA markets nationwide, including two top 10 markets - Washington, D.C. and Houston, Texas. Free cash flow is calculated as non-GAAP Adjusted EBITDA (as defined above), further adjusted by adding back (1) stock-based compensation, (2) non-cash 401(k) company match, (3) syndicated programming amortization, (4) dividends received from equity method investments (5) reimbursements from spectrum repacking, and (6) proceeds from company-owned life insurance policies. In addition, we have excluded certain income tax special items associated with a valuation allowance on a deferred tax asset related to an equity method investment, a partial capital loss valuation allowance release, and deferred tax benefits related to state tax planning strategies. family responsibilities, disability, enrollment in college or vocational school, political . 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). Fair Use Policy This is 2021, yet the roots of racist behavior within Tegna/Gannett are ugly and run deep. Jakes, was co-produced by Debmar-Mercury, Tegna Media, 44 Blue Productions, Jakes' own production company, TDJ Enterprises and EnLight Productions and lasted from August 17, 2016, to September 8, 2017. 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. Hopefully, your team can look into this and get Tegna cleaned up from the top. . Completed Five Year Renewal of Affiliation Agreement with ABC - In January, TEGNA entered into a comprehensive, five year deal through late 2023 with the ABC network that renews the station affiliation agreements for all of the company's ABC-affiliated stations. 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. 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. Because of this, WHEC-TV and WDAN-TV are the only television stations built from the ground-up by Gannett. The company is 49.5% female and 39.7% ethnic minorities. The factors described above cannot be controlled by the Company. 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. Vice President, Corporate Communications All waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, applicable to the Merger and related transactions have expired. A large media company with 6,883 employees and an annual revenue of $3.0B, TEGNA is headquartered in Virginia. 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. 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? 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. It owns: Stations are arranged in alphabetical order by state and city of license. 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. RECENT CONTENT, PROGRAMMING AND ESG UPDATES. Total company Adjusted EBITDA2 was $361 million, representing an increase of 47 percent compared to the fourth quarter of 2021. (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 . Other Nexstar/Tribune stations going to Tegna are WZDX/Huntsville, KFSM-TV/Fort SmithFayetteville, WTIC-TVWCCT-TV/Hartford, and WATN-TVWLMT/Memphis. TYSONS, Va., February 27, 2023--(BUSINESS WIRE)--TEGNA Inc. (NYSE: TGNA) today announced financial results for the fourth quarter and full-year ended December 31, 2022. TEGNA employees are most likely to be members of the Democratic Party. TEGNA Inc. is a proud equal opportunity employer. Support MBFC Donations [3] [4] It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies. Employees seem to enjoy working in an otherwise diverse workplace that is dominated by members of the Democratic Party. Filtered Search, Enter your email address to subscribe to MBFC and receive notifications of new posts by email. Owned by Sander Media from 2013 to 2015 and operated by Gannett/Tegna prior to its acquisition by Tegna Inc. in 2015. Bias Rating: LEAST BIASED Following the close of the transaction, Deb McDermott will become CEO and Mr. Kim will serve as Chairman of a new Board. Jakes' Talk Show This Summer With 44 Blue Productions, TDJ Enterprises and Enlight Productions TEGNA", "EMPOWERING NEW DAILY TALK SHOW "T.D. TEGNA-SVC@SARDVERB.com, For investor inquiries, contact: 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. The network saw over 800 million minutes of watch time in 2022, a 502 percent increase year-over-year. [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. TEGNA Inc. (NYSE: TGNA) today announced financial results for the second quarter ended June 30, 2022. . Using a database of 30 million profiles, Zippia estimates demographics and statistics for TEGNA. Also after closing, Premion is expected to operate as a standalone business majority owned by Cox Media Group and Standard General. 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. TEGNA also owns leading multicast networks True Crime Network and Quest. Non-GAAP expenses less Premion costs increased two percent from 2021, driven primarily by programming expenses. Cooper Media's president and general manager Brian Weiss transferred to Tegna and continue managing the two networks. 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. (Press Release). Media Bias Chart (PDF version) Interactive Chart Centrist News ABC News Associated Press BBC News CBS News This blackout by Tegna is an increasingly common tactic that channel owners use to force cable and satellite companies to pay unreasonable rate increases during contract negotiations. The closing of the transaction remains subject to the approval of the Federal Communications Commission (the "FCC") and customary closing conditions. The split was completed on June 29, 2015. 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. [22][23], In March 2019, Tegna announced its formation of VAULT Studios, its first, in-house digital content studio. TEGNA offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, includingPremion, TEGNAs OTT advertising service. 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 a separate SEC filing. TEGNA owns and operates ABC affiliates in nine markets across the country . TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. [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 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 . National and International news is provided by the Associated Press as well as other TEGNA TV stations. The company creates and delivers television programming and digital content, and information across various platforms. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. For more information, visitwww.TEGNA.com. On February 21, 2023, TEGNA elected, pursuant to the terms of the Merger Agreement, to extend the Outside Date (as defined in the Merger Agreement) from 5:00 p.m. Eastern time on February 22, 2023 to 5:00 p.m. Eastern time on May 22, 2023. 2022 Key ESG Highlights and SASB Disclosure Today, we published our 2022 Key Highlights and SASB Disclosure for the Media & Entertainment industry standard, which outline the steps we have taken to live our purpose of serving the greater good of our local communities. Based on our research, similar companies to TEGNA are ION Media Networks, Discovery, and Univision Holdings, Inc. All plans give access to our growing exclusive content! Press Freedom Rating: MOSTLY FREE The allegations include an incident of a Tegna employee, whos now a vice president, wearing blackface while dressed as Michael Jackson at a company event in the 1980s. As a result, the TEGNA Foundation approved more than 2,150 employee matching gifts, which combined with TEGNA Foundation matches totaled more than $2 million in donations to the causes and nonprofits employees care about. 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. 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. 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 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. 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. In Q4, Locked On set a quarterly record with a total audience of more than 66 million listens and views. 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. Senior Vice President, Financial Planning & Analysis The document was filed with the SEC by Standard General. On June 29, 2015, the Gannett Company split in two, specializing in print media and the other specializing in broadcast and digital media. Additional Information and Where to Find It. 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.". . Total cash at the end of the quarter was $552 million. TEGNA also owns leading multicast networks True Crime Network, Twist and Quest. Three things to know about what critics are calling Mississippis Jim Judiciary Democrats go after GOP whistleblowers in FBI probes, Trump asks for roughly six-month delay in New York fraud case, Pelosi on DC crime bill: I wish Biden wouldve told us first, Mike Lindell calls DeSantis a Trojan Horse. GAAP earnings per diluted share were $2.81 and non-GAAP earnings per diluted share were $2.83. 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. 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". [37][46][47], The sale will also result in the realignment of station holdings presently associated with both companies: Standard Media's four stations WDKA, WLNE, KBSI, and KLKN will be sold to Cox Media Group, which will then divest its Boston station WFXT to an affiliate of Standard General, and acquire WFAA/KMPX, KHOU/KTBU, and KVUE, from Tegna.[37][46][47].
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