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. 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. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. 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. Employees in the top 10 percent can make over $97,000 per year, while employees at the bottom 10 percent earn less than $32,000 per year. 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 . Total cash at the end of the quarter was $552 million. This earnings release also discusses free cash flow, a non-GAAP performance measure that the Board of Directors uses to review the performance of the business. (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 . They also responded to objections by NewsGuild-CWA describing Standard General as "backed by anonymous investors located in the Cayman Islands", stating that the entirety of its board is represented by U.S. 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. 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. TEGNA offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, including Premion, TEGNAs OTT advertising service. The most directly comparable GAAP financial measure to Adjusted EBITDA is Net income attributable to TEGNA. 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. 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. Mr. Kim is supported by a diverse, highly experienced 17-person team, including seven investment professionals with over 120 years of collective investing experience. 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. 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. Do Democrats need a past superstar to hold the White House in 2024? These sources have minimal bias and use very few loaded words (wording that attempts to influence an audience by appeals to emotion or stereotypes). We have clear processes for promptly investigating and addressing inappropriate workplace conduct at all levels of the organization. In review, 12 News KPNX reports local news primarily through TV news video and accompanying text. Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. Texas GOP votes to censure Rep. Tony Gonzales over support on gun, same-sex Trump backs flying cars, calls for new cities in campaign video, Texas property tax bill excludes divorced, LGBTQ couples from getting relief. In addition, the company owns seven CW affiliates (including three digital subchannels of KFMB-TV, KYTX, and WMAZ-TV), three Estrella TV affiliates (including two digital subchannels of KENS and KVUE), ten MyNetworkTV affiliates (including five digital subchannels of KFMB-TV, KIDY, KXVA, WQAD-TV, and WZDX), three independent stations (including two digital subchannels of KTVB and its satellite of KTFT-LD), a low-powered MeTV affiliate, and a Quest owned-and-operated station. The transaction consideration represents a premium of approximately 39% to TEGNAs unaffected closing share price on September 14, 2021, the last full trading day prior to media speculation about a potential sale of TEGNA, and a premium of approximately 11% to TEGNAs all-time high closing price since separation from the Gannett publishing business in 2015. Jakes' Talk Show This Summer With 44 Blue Productions, TDJ Enterprises and Enlight Productions TEGNA", "EMPOWERING NEW DAILY TALK SHOW "T.D. Tegna's digital advertising subsidiary Premion will be held as a standalone business between Standard and CMG. 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. 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. 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. The staff at TEGNA come from unusually diverse demographic backgrounds. Stations are listed alphabetically by state and city of license. investorrelations@TEGNA.com. 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. 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. Does Mexico want to be the next Nicaragua? 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. 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. 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. Claiming and updating your company profile on Zippia is free and easy. [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 also delivers innovative and unparalleled solutions for advertisers through TEGNA Marketing Solutions (TMS). 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. Factual Reporting: HIGH 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. Also after closing, Premion is expected to operate as a standalone business majority owned by Cox Media Group and Standard General. TEGNA Inc. (NYSE: TGNA) today announced financial results for the second quarter ended June 30, 2022. . The local affiliate I work for in Des Moines is very poorly managed. TEGNA Inc (TGNA) - Financial and Strategic SWOT Analysis Review 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. 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. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. Hopefully, your team can look into this and get Tegna cleaned up from the top. . TEGNA Inc (TEGNA) is a provider of media services. Management and the companys Board of Directors use non-GAAP financial measures for purposes of evaluating company performance. . Have you worked at TEGNA? Cautionary Statement Regarding Forward-Looking Statements. 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). 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 offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, includingPremion, TEGNAs OTT advertising service. We look forward to building on the Companys strong foundation and leveraging Debs deep industry experience to drive further growth.. TEGNA achieved net income of $219 million on a GAAP basis, or $221 million on a non-GAAP basis. The 20 markets renewed cover 17 percent of the U.S. audience and nearly 21 . The sale includes a clause that will slowly increase the value that Standard and Apollo will pay per-share if the sale takes longer than nine months to close. [39] Tegna's shareholders chose to re-elect all 12 current board members. Tegna Inc. is a media company engaged in providing stories, investigations and marketing services. tegna inc political affiliation - blueskyma.com (adsbygoogle = window.adsbygoogle || []).push({}); Ad-Free Login Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. [3] [4] It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies. family responsibilities, disability, enrollment in college or vocational school, political . The Company undertakes no obligation to update or to revise any forward-looking statements. Will Become Nations Largest Minority-Owned, Woman-Led Broadcast Group. to be nominated as a board member for Tegna, citing an incident where CEO Dave Lougee assumed he was a hotel valet, and also potential conflicts of interest. As community needs differ by region, please check with your local Community Grant contact to learn what needs are being addressed in your area. TEGNA Inc. (NYSE:TGNA) Q3 2020 Earnings Conference Call November 9, 2020 9:00 AM ET. "[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. 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. TMS is a one-stop shop that helps businesses thrive through an unmatched suite of services and solutions that reach consumers across television, email, social and over-the-top (OTT) platforms, including Premion, TEGNA's OTT advertising service. TEGNA also owns leading multicast networks True Crime Network, Twist and Quest. Sunday shows preview: US-China relations remain on shaky ground, 2024 election looms. 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. 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. You can click/tap on the image to go to the full version of the chart. Following the close of the transaction, Deb McDermott will become CEO and Mr. Kim will serve as Chairman of a new Board. In June 2015, Gannett spun off its broadcasting division. The company, which will retain the Tegna name, will be controlled by an affiliate of Standard General, with Standard Media CEO Deb McDermott (who previously led Young Broadcasting and Media General) becoming CEO. TEGNA Employee Political Affiliation TEGNA employees are most likely to be members of the Democratic Party. 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. [8] The two companies, however, continued to share a headquarters complex. Standard General was founded in 2007 and manages capital for public and private pension funds, endowments, foundations, and high-net-worth individuals. Traffic/Popularity: Medium Traffic Company Participants. Corporate offers a lot of good benefits and seems to care about employees. Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. TEGNA is ranked #13 on the Best Media Companies to Work For in Virginia list. 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. 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. 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. This is 2021, yet the roots of racist behavior within Tegna/Gannett are ugly and run deep. TEGNA Inc. Reports Fourth Quarter and Full-Year 2022 Results | TEGNA Inc. 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, reaching approximately 39 percent of all television households nationwide. "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 employees are most likely to be members of the democratic party. 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. [24], On March 20, 2019, Tegna entered an agreement with Nexstar Media Group to acquire eleven stations for $740 million in order to reduce Nexstar's national ownership reach under the federally imposed 39% cap and alleviate ownership conflicts with existing Nexstar properties once it completes a merger with Tribune Media. After evaluating this opportunity against TEGNAs standalone prospects and other strategic alternatives, our Board concluded that this transaction maximizes value for TEGNA shareholders. KPNX is an NBC affiliate based in Phoenix, Arizona. 703-873-6747 Owned by Sander Media from 2013 to 2015 and operated by Gannett/Tegna prior to its acquisition by Tegna Inc. in 2015. In Q4, Locked On set a quarterly record with a total audience of more than 66 million listens and views. Anne Bentley Sard Verbinnen & Co. Media Bias Chart (PDF version) Interactive Chart Centrist News ABC News Associated Press BBC News CBS News The company, therefore, believes that each of the non-GAAP measures presented provides useful information to investors and other stakeholders by allowing them to view our business through the eyes of management and our Board of Directors, facilitating comparisons of results across historical periods and focus on the underlying ongoing operating performance of our business. [39][43][44][45] The company stated that Lougee "immediately acknowledged the incident and has stated that he made a mistake, for which he had apologized immediately at the time". TEGNA (TGNA) and NBC Ink Multi-Year Deal to Renew Affiliation Help other job seekers by rating TEGNA. Total company revenue was $917 million in the fourth quarter, up 18 percent year-over-year, driven by strong growth in political revenue despite advertising and marketing services ("AMS") revenue declines resulting from political displacement and macroeconomic headwinds. On February 24, 2023, the FCC issued a hearing designation order with respect to the transaction. The purchase includes the WBNS television (CBS affiliate WBNS-TV) and radio (WBNS (AM) and WBNS-FM) stations in Columbus, the Ohio News Network, and NBC affiliate WTHR television in Indianapolis. 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. Using rigorous methodology, the media bias chart evaluates popular media outlets and the way in which they tend to lean: centrist, conservative, or liberal. 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. Funding. TEGNA Inc (TGNA) Q4 2020 Earnings Call Transcript Digital Sales Strat-TEST Position Job in Phoenix, AZ - Tegna On June 29, 2015, the Gannett Company split in two, specializing in print media and the other specializing in broadcast and digital media. This page was last edited on 4 March 2023, at 07:53. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. The factors described above cannot be controlled by the Company. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. 1998 - 2023 Nexstar Media Inc. | All Rights Reserved. TEGNA has renewed retransmission consent agreements representing approximately 30 percent of our subscribers since our prior quarterly release on November 9, 2022. TEGNA also owns leading multicast networks True Crime Network, Twist and Quest. TEGNA is currently evaluating its options. Dave Lougee - President and Chief Executive . [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. These cable networks were owned by Belo prior to acquisition by Gannett/Tegna: "TEGNA" redirects here. [49] Standard General responded to the letter, denying that they planned to cut jobs or hub content, and promoting that Tegna would become the largest female-run and minority-owned broadcaster in the United States. Ad-Free Sign up 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. 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. Doug Kuckelman - Head of Investor Relations. At all levels, we have been tireless in our efforts to ensure TEGNA effectively serves all of our stakeholders, and I am immensely proud of these efforts. TEGNA Stations KARE and WXIA Honored with 2023 Alfred I. duPont-Columbia University Awards KAREs "The GAP: Failure to Treat, Failure to Protect" and WXIAs "#Keeping" received prestigious 2023 Alfred I. duPont-Columbia University Awards which honor excellence in broadcast, online and documentary journalism. 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. Again, the wording is low biased such as this: What Arizona lawmakers have to say about Wednesdays Iran briefing. TEGNA Inc. (TGNA) Up 3.4% Since Last Earnings Report: Can It Continue? Total company revenue was down two percent from the fourth quarter of 2020 due to reduced political revenue compared to 2020s presidential election cycle, partially offset by record fourth quarter subscription revenue in 2022. 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. Local information is presented with minimally loaded wording such as this: Wrong-way driver stopped on I-10 Sunday morning. 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 .