TEGNA Inc. is a proud equal opportunity employer. Involved in the Gannett Company's 1997 station trade deal with. 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. You can click/tap on the image to go to the full version of the chart. 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. TEGNA's mission statement is "To serve the greater good of our communities. 14% of TEGNA employees are Black or African American. 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. TEGNA (TGNA) and NBC extend partnership with multi-year deal to renew station affiliation agreements for 20 TEGNA markets in the United States. Further, the website does not publish editorial commentary. Also after closing, Premion is expected to operate as a standalone business majority owned by Cox Media Group and Standard General. Other Nexstar/Tribune stations going to Tegna are WZDX/Huntsville, KFSM-TV/Fort SmithFayetteville, WTIC-TVWCCT-TV/Hartford, and WATN-TVWLMT/Memphis. 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. With 63 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network . Tegna owns more than 60 local television stations in the U.S. and several other media properties. In June 2015, Gannett spun off its broadcasting division. Jakes' Talk Show This Summer With 44 Blue Productions, TDJ Enterprises and Enlight Productions TEGNA", "EMPOWERING NEW DAILY TALK SHOW "T.D. A large media company with 6,883 employees and an annual revenue of $3.0B, TEGNA is headquartered in Virginia. 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. The broadcasting company retained KPNX, which took the name TEGNA. Full-Time. The salaries at Discovery average $66,912 per year, and the salaries at Univision Holdings, Inc. come in at $65,488 per year. 1998 - 2023 Nexstar Media Inc. | All Rights Reserved. It has an unusually high proportion of employees who are members of the Democratic Party, at 87.0%. Political revenue was $179 million, up nine percent from 2018, the last non-presidential election year, on a pro forma basis1. THE HILL 1625 K STREET, NW SUITE 900 WASHINGTON DC 20006 | 202-628-8500 TEL | 202-628-8503 FAX. (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 . Have you worked at TEGNA? 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 company creates and delivers television programming and digital content, and information across various platforms. (adsbygoogle = window.adsbygoogle || []).push({}); Ad-Free Login Also, our non-GAAP measures may not be comparable to similarly titled measures of other companies. [4][9][10], In September 2016, Tegna announced plans to spin off Cars.com to create two independent publicly traded companies. 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. 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. TEGNA employees are most likely to be members of the democratic party. On June 29, 2015, the Gannett Company split in two, specializing in print media and the other specializing in broadcast and digital media. In a statement, she explained that the split plans were "significant next steps in our ongoing initiatives to increase shareholder value by building scale, increasing cash flow, sharpening management focus, and strengthening all of our businesses to compete effectively in today's increasingly digital landscape." The split was completed on June 29, 2015. 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. TEGNA Parties Democratic Party 87.5 % - Republican Party 12.5 % - Employee Political Donations Total cash at the end of the quarter was $552 million. 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). Bias Rating: LEAST BIASED See all Least Biased Sources. [56], In January 2018, Tegna announced a partnership with Sony Pictures Television to handle syndication distribution and advertising sales for its original programs.[57]. An affiliate of Standard General will hold substantially all of the voting, common equity in the new entity that is acquiring TEGNA, with CMG and funds managed by affiliates of Apollo Global Management to hold securities in the new entity that will be non-voting and non-attributable and with other investors holding non-voting interests. Corporate offers a lot of good benefits and seems to care about employees. The company believes that such expenses and gains are not indicative of normal, ongoing operations. 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 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. Non-GAAP expenses less Premion costs increased two percent from the fourth quarter of 2021, driven primarily by programming expenses. The most common ethnicity at TEGNA is White (60%). Dave Lougee, President and CEO of TEGNA, said, This transaction is the next step in TEGNAs evolution and recognizes the value of our portfolio of leading broadcast assets and innovative digital brands. Automotive advertising revenue rebounded in the quarter with strong year-over-year growth. The 20 markets renewed cover 17 percent of the U.S. audience and nearly 21 . enrollment in college or vocational school, political affiliation, veteran . 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. In 2012, before Tegna made its 2015 split from newspaper publishing company Gannett Co. Inc., political advertising hit $56 million in revenue in the third quarter and $144 million in the fourth . Filtered Search, Enter your email address to subscribe to MBFC and receive notifications of new posts by email. On June 29, 2015, the Gannett Company split in two, specializing in print media and the other specializing in broadcast and digital media. One of the most prominent Tegna Digital properties. Tegna Inc. is a media company engaged in providing stories, investigations and marketing services. Joele Frank, Wilkinson Brimmer Katcher [8] The two companies, however, continued to share a headquarters complex. Management and the companys Board of Directors use non-GAAP financial measures for purposes of evaluating company performance. Press Freedom Rating: MOSTLY FREE "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. As community needs differ by region, please check with your local Community Grant contact to learn what needs are being addressed in your area. Other major sources include 2ndVote, a research provider that scores companies from 5 (most conservative) to 1 (most liberal), and OpenSecrets, an online database that tracks political donations in the U.S. 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 Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. TEGNAs stations have earned excellent reputations as leading local content providers, and TEGNAs digital and content assets are a key part of its future in an evolving media landscape. Standard General was founded in 2007 and manages capital for public and private pension funds, endowments, foundations, and high-net-worth individuals. Vice President, Corporate Communications [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. We also rate them High for factual reporting due to proper sourcing and a clean fact check record. Stations streaming apps are a one-stop destination for local stories that matter and include local twenty-four-hour "Watch" streams, live local news, extended coverage, weather, station specials and investigations. [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." 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. Senior Vice President, Financial Planning & Analysis We are a drug free, EEO employer committed to a diverse workforce. 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. [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]. Included are stations WOI-DTKCWI-DT in Des Moines and WQAD-TV, based in Moline, Illinois but also serving neighboring Davenport and Pennsylvania (WPMT/Harrisburg and WNEP-TV/ScrantonWilkes-Barre). 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. For the trailing two-year period ending December 31, 2022, free cash flow as a percentage of revenue was 21.8 percent. Wrong-way driver stopped on I-10 Sunday morning, What Arizona lawmakers have to say about Wednesdays Iran briefing. Gannett purchased the construction permit for WINR-TV and signed the station on in 1957. 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. KPNX also has a section dedicated to politics covering national politics through the Associated Press and local Arizona politics through 12 News TV. Watch live: Trump, Bolsonaro and more take the stage on Day 3 of CPAC, Twitter discloses another possible government censorship effort. Subscription revenue was a fourth quarter record of $372 million, up 11 percent year-over-year, due to rate increases, partially offset by subscriber declines and the comparison to the DISH disruption in 2021. Cofactor Digital (ShopLocal) On December 15, 2016, sold Cofactor to Liquidus, a digital marketing solutions company. in the U.S. and several other media properties. 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. Hopefully, your team can look into this and get Tegna cleaned up from the top. Tegna owns or operates 68 television stations located in 54 markets (including fourteen duopolies); it also owns two radio stations in Columbus, Ohio. TEGNA Inc. is a proud equal opportunity employer. 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. 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. 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. The most directly comparable GAAP financial measure to free cash flow is Net income attributable to TEGNA. Gracia Martore, president and CEO of Tegna, retired and stepped down from the board. Right Bias: How we rate the bias of media sources. 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. enrollment in college or vocational school, political affiliation, veteran . 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. 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. In general, the news is reported factually and with minimal bias. [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. 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. 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 shareholders approved an initial public offering of Cars.com as a publicly traded spin-off in May 2017. Tegna retained "old" Gannett's stock price history, though it trades under a new ticker symbol, TGNA.
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