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TEGNA Inc (TEGNA) is a provider of media services. 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. [3][4] It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies. (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 . in the U.S. and several other media properties. 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. Help us make this company more transparent. (M. Huitsing 01/12/2020) Updated (03/21/2022), Last Updated on March 21, 2022 by Media Bias Fact Check, Left vs. 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. Buy a coal mine, Marianne Williamson officially launches long-shot bid for 2024, Securities and Exchange Commission (SEC) filing, Steve Bannon blasts Murdochs, Fox News in fiery CPAC speech, Legal experts say Fox News on shaky legal ground in Dominion lawsuit, Youngkin to take part in CNN town hall amid 2024 speculation, Bill Maher: I am afraid of Trump on a very personal level, FBI Dir accuses China of obfuscating Covid investigation, Poll finds Ron DeSantis top choice for 2024 GOP nominee, What Biden might try next if his student loan forgiveness plan is struck down, Trump reigns supreme at a diminished CPAC, Haley to hit Trump on spending record in closed-door Saturday speech. "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. Tegna Inc. is a media company engaged in providing stories, investigations and marketing services. [36] However, on February 4, 2022, Dish Network finally reached to an agreement with Tegna, resulting with all Tegna owned stations coming back. 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. [56], In January 2018, Tegna announced a partnership with Sony Pictures Television to handle syndication distribution and advertising sales for its original programs.[57]. The wages at ION Media Networks average higher than the other similar companies, where the median salary is $72,169 per year. 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). Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. For the trailing two-year period ending December 31, 2022, free cash flow as a percentage of revenue was 21.8 percent. TEGNA owns and operates ABC affiliates in nine markets across the country . The most directly comparable GAAP financial measure to free cash flow is Net income attributable to 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. A syndicate of banks led by RBC Capital Markets will provide debt financing. TEGNA Inc. (NYSE: TGNA) today announced financial results for the second quarter ended June 30, 2022. . 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.. Vice President, Corporate Communications [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. 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. 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. The most common ethnicity at TEGNA is White (60%). TEGNA Parties Democratic Party 87.5 % - Republican Party 12.5 % - Employee Political Donations We calculated the diversity score of companies by measuring multiple factors, including the ethnic background, gender identity, and language skills of their workforce. [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. 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. TEGNA Inc. is a media company innovating in the digital age. 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. This is further adjusted by deducting payments made for (1) syndicated programming, (2) pension, (3) interest, (4) taxes (net of refunds) and (5) purchases of property and equipment. 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. 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 . Non-GAAP operating expenses less programming and Premion costs were down one percent compared to the fourth quarter of 2021. 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. 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,. Privacy Policy / Your California Privacy Rights. 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. 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. In June 2015, Gannett spun off its broadcasting division. TEGNA (TGNA) and NBC Ink Multi-Year Deal to Renew . 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. VERIFY has 385,000 followers across its dedicated channels. Founded in 1953, 12 News KPNX is an NBC affiliate based in Phoenix, Arizona. . As part of the separation, the company announced that the broadcasting and digital company would be named Tegnaa partial anagram of "Gannett". Sunday shows preview: US-China relations remain on shaky ground, 2024 election looms. 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. Does the media have a liberal bias? [11][12] Shortly after, Tegna completed the spin-off of Cars.com, which now trades under a new ticker symbol, CARS. The information is 100% accurate and fairly easy to verify. None of the information on this page has been provided or approved by TEGNA. Record subscription revenue of $1.5 billion was up four percent year-over-year, driven by rate increases and partially offset by subscriber declines. 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. (stylized in all caps as TEGNA) is an American publicly traded broadcast, digital media and marketing services company headquartered in Tysons Corner, Virginia. 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.". Filtered Search, Enter your email address to subscribe to MBFC and receive notifications of new posts by email. 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. On February 24, 2023, the FCC issued a hearing designation order with respect to the transaction. The station needs an outstanding talent to bring viewers to the biggest sporting events in Indiana including extensive coverage of the . Richard Moody donated $2,850 to the Democratic Party. [34], A carriage dispute with Dish Network, beginning on October 6, 2021, resulted in the removal of at least 64 Tegna stations in 53 markets, covering about nearly 3 million customers. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. TEGNA employees are most likely to be members of the democratic party. Expansion into video podcasts was a key driver of the networks growth during the year, delivering a 515 percent increase in video views year-over-year. 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.. 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. 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. 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). investorrelations@TEGNA.com. An obvious source for the justification is recent news. The document was filed with the SEC by Standard Generalin preparation forTegnas annual shareholders meeting scheduled for May 7. (Press Release). Factual Reporting: HIGH Claiming and updating your company profile on Zippia is free and easy. Media Bias Chart (PDF version) Interactive Chart Centrist News ABC News Associated Press BBC News CBS News The broadcasting company retained KPNX, which took the name TEGNA. Does Mexico want to be the next Nicaragua? 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." 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. Adjusted EBITDA is not intended to purport to be an alternate to net income as a measure of operating performance or to cash flows from operating activities as a measure of liquidity. [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. The split was completed on June 29, 2015. 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. TEGNA stockholders voted to approve the transaction at the special meeting of stockholders held on May 17, 2022. 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. 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. The largest donation made to a political party by a TEGNA employee was Employees seem to enjoy working in an otherwise diverse workplace that is dominated by members of the Democratic Party. 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. [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. 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. 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. Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. 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. This position will report directly to the Regional Head of Technology and Operations. The most directly comparable GAAP financial measure to Adjusted EBITDA is Net income attributable to TEGNA. Since 2020, advertising trends have seen significant broad-based strength across all advertising categories, except auto and insurance in this two-year comparison.

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