All plans give access to our growing exclusive content! by Richard Moody. Our estimates are verified against BLS, Census, and current job openings data for accuracy. Compared to 2020, total company revenue was up 12 percent driven by record subscription revenue and growth in AMS revenue fueled by Premion, partially offset by reduced political revenue. 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. 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. In comparison, some of its highest paying competitors, like. Dave Lougee is President/CEO at Tegna Inc. See Dave Lougee's compensation, career history, education, & memberships. [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". 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. [53], T.D. 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. Furthermore, the Leadership Development and Compensation Committee of our Board of Directors uses non-GAAP measures such as Adjusted EBITDA, non-GAAP net income, non-GAAP EPS, and free cash flow to evaluate managements performance. 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. As reported, our political revenues in 2020 were almost double that of 2018 and almost three times that of 2016, the prior presidential election year. 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. Company Participants. The Company undertakes no obligation to update or to revise any forward-looking statements. Press Freedom Rating: MOSTLY FREE [citation needed], In 2020, activist shareholder Soo Kim, owner of Standard General, began to pursue control over Tegna, citing its "pattern of passivity" on the market. We are a drug free, EEO employer committed to a diverse workforce. 12news.com is the website for KPNX that covers news, sports, and weather. [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. Cooper Media's president and general manager Brian Weiss transferred to Tegna and continue managing the two networks. [13] Upon the completion of the spin-off, Dave Lougee, president of Tegna Media, was named president and CEO of Tegna and joined the company's board of directors. Several categories grew year-over-year such as entertainment, travel and tourism, services, and home improvement. TEGNA achieved record net income of $631 million on a GAAP basis, or $637 million on a non-GAAP basis. TEGNA Inc (TGNA) - Strategy, SWOT a The list includes stations owned by Tegna, Inc. during its former existence as the Gannett Company subsidiary Gannett Broadcasting, Inc. Finally, the website features fact checks from TEGNAs fact check service VERIFY Fact check. In Q4, Locked On set a quarterly record with a total audience of more than 66 million listens and views. 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. These non-GAAP financial measures should not be considered in isolation from, or as a substitute for, the related GAAP measures, nor should they be considered superior to the related GAAP measures, and should be read together with financial information presented on a GAAP basis. TEGNA Employee Political Affiliation TEGNA employees are most likely to be members of the Democratic Party. 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. Jakes ended in September 2017 and was replaced with news and entertainment show Daily Blast Live, which premiered on September 11, 2017. WBNS-TV, Central Ohio's News Leader, seeks a passionate, ambitious Anchor/Reporter to join our team. 703-873-6747 In 2015, Gannett spun off Tegna as a separate public company. Forward-looking statements are based on a number of assumptions about future events and are subject to various risks, uncertainties and other factors that may cause actual results to differ materially from the views, beliefs, projections and estimates expressed in such statements. 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 also owns leading multicast networks True Crime Network, Twist and Quest. Fourth quarter Adjusted EBITDA was down 16 percent compared to the fourth quarter of 2020 reflecting reduced political revenue from the presidential election and the two Georgia Senate runoffs, partially offset by growth in subscription revenue. [11][12] Shortly after, Tegna completed the spin-off of Cars.com, which now trades under a new ticker symbol, CARS. 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. We calculated the performance score of companies by measuring multiple factors, including revenue, longevity, and stock market performance. The sale was approved by Standard General and Apollo Global Management on May 17, 2022. JAKES" SET TO PREMIERE MONDAY, SEPTEMBER 12, 2016 TEGNA", "Exclusive: Tegna's 'BOLD' to Be Renamed 'Daily Blast Live', Tegna, TV One to Launch Daily Talk Show Sister Circle, TEGNA Announces Sing Like a Star, New Singing Competition Premiering September 16, "NATPE Roundup: Fox TV Stations Renew 'Page Six TV,' Sony Pictures TV Teams With Tegna", "How This New Platform Plans to Make Buying Ads on Streaming Services Easier", http://investors.tegna.com/news-releases/news-release-details/tegna-acquires-leading-local-sports-podcast-network-locked, https://awfulannouncing.com/podcasts/tegna-acquires-locked-on-podcast-network.html, "Meredith Buying Three Stations From Gannett", "Meredith Corp. closes on $177million purchase of KMOV", https://en.wikipedia.org/w/index.php?title=Tegna_Inc.&oldid=1142769168, Defunct, went silent in 1954, frequency now used by. Management and the companys Board of Directors use non-GAAP financial measures for purposes of evaluating company performance. Standard General CBS and TEGNA Renew Affiliation Agreement - Paramount TEGNA Inc. is a proud equal opportunity employer. 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 deeply gratified that TEGNAs new owners value and embrace our purpose to serve the greater good of our communities. The 11 markets renewed cover . GAAP and non-GAAP earnings per diluted share were $0.97 and $0.98, respectively. TEGNA owns and operates ABC affiliates in nine markets across the country . Claiming and updating your company profile on Zippia is free and easy. For Gannett as a publishing company, see, This list related to film, television, or video is, Sale to Standard General and Apollo Global Management, Satellites, semi-satellites and translators. Full-Time. On February 24, 2023, the FCC issued a hearing designation order with respect to the transaction. TEGNA Inc. (NYSE: TGNA) today announced financial results for the second quarter ended June 30, 2022. . in preparation forTegnas annual shareholders meeting scheduled for May 7. Joele Frank, Wilkinson Brimmer Katcher 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. 212-355-4449, TEGNA TEGNA Inc (TGNA) Q4 2020 Earnings Call Transcript Since 2020, advertising trends have seen significant broad-based strength across all advertising categories, except auto and insurance in this two-year comparison. In review, 12 News KPNX reports local news primarily through TV news video and accompanying text. 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. 12 News KPNX is owned and operated by TEGNA Inc., which operates 66 television stations in 54 markets. Funding. 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-over-year basis. Non-GAAP expenses less Premion costs increased two percent from the fourth quarter of 2021, driven primarily by programming expenses. TEGNA stockholders voted to approve the transaction at the special meeting of stockholders held on May 17, 2022. [36] However, on February 4, 2022, Dish Network finally reached to an agreement with Tegna, resulting with all Tegna owned stations coming back. See all Least Biased Sources. Does Mexico want to be the next Nicaragua? The transaction has an equity value of approximately $5.4 billion and an enterprise value of approximately $8.6 billion, including the assumption of debt. Forward-looking statements are based on a number of assumptions about future events and are subject to various risks, uncertainties and other factors that may cause actual results to differ materially from the views, beliefs, projections and estimates expressed in such statements. TEGNA INC. : Shareholders Board Members Managers and Company Profile Unsurprisingly, Tom's and Seventh Generation jump to the top of left-leaning companies. Right Bias: How we rate the bias of media sources. Free cash flow3 was $297 million for the quarter. [56], In January 2018, Tegna announced a partnership with Sony Pictures Television to handle syndication distribution and advertising sales for its original programs.[57]. WZDX, the TEGNA-owned FOX affiliate in Huntsville AL, has an opening for an experienced, versatile Head of Technology and Operations. 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. Tegna also retained G/O Digital, a digital marketing services brand that it launched in August 2013, and the 20 broadcast stations it acquired from Belo Corporation in December 2013 and the six stations it acquired from London Broadcasting Company in July 2014. Continued Progress on Achieving 2025 Diversity, Equity and Inclusion Goals Following our stated five-pillar plan, at the end of 2022, we continued to make progress against our 2025 DE&I goals to grow Black, Indigenous and People of Color (BIPOC) representation in content teams, content leadership and company leadership. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. That is where the problem is and will remain unless exposed. With 49 television stations and two radio stations in 41 markets, TEGNA delivers relevant content and information to consumers across platforms. Local information is presented with minimally loaded wording such as this: Media Bias Fact Check offers a number of sustaining Ad-Free membership plans to fit your budget! On February 22, 2022, TEGNA Inc.and Standard General L.P. announcedthat TEGNAand an affiliate of Standard General entered into a definitive agreement under which TEGNAwill be acquired by the Standard General affiliate for $24.00per share in cash. This 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. The broadcasting company retained KPNX, which took the name TEGNA. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360 view of the company Key Highlights TEGNA Inc (TEGNA) is a provider of media services. [28], On June 11, 2019, it was reported Tegna Inc. purchased the Dispatch Broadcast Group's television and radio assets, subject to regulatory approval, for $535 million. Total company revenue was a record $3.3 billion, up ten percent year-over-year, driven by strong growth in political revenue and record subscription revenue despite AMS revenue declines as a result of political displacement and macroeconomic headwinds. Marketing Director Job in Washington, DC - Tegna | CareerBuilder.com The company is 49.5% female and 39.7% ethnic minorities. About TEGNA. 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). Andy Brimmer/Jamie Moser [18] The range of programming on the network would be engineering and science, human achievements, military history and natural history. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. 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. TEGNA Inc. Reports Third Quarter 2022 Results | TEGNA Inc. 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. 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. 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. Privacy Policy / Your California Privacy Rights. Following the close of the transaction, TEGNA stations in Austin (KVUE), Dallas (WFAA and KMPX) and Houston (KHOU and KTBU) are expected to be acquired by Cox Media Group (CMG) from Standard General. The 20 markets renewed cover 17 percent of the U.S. audience and nearly 21 . On June 29, 2015, the Gannett Company split in two, specializing in print media and the other specializing in broadcast and digital media. TEGNA Inc. (TGNA) CEO Dave Lougee on Q3 2020 Results - SeekingAlpha [8] The two companies, however, continued to share a headquarters complex. Head of Technology & Chief Engineer job in Huntsville at Tegna Despite its diversity in other areas, TEGNA employees are noticeably lacking in political diversity. Advertising and sponsored content generate revenue. 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. Political revenue was $179 million, up nine percent from 2018, the last non-presidential election year, on a pro forma basis1. 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. We are looking for proven leader with strong technical judgment, effective communication skills, possessing an . TEGNA Inc. is a proud equal opportunity employer. Cofactor Digital (ShopLocal) On December 15, 2016, sold Cofactor to Liquidus, a digital marketing solutions company. TEGNA Inc. is a media company innovating in the digital age. 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". Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. These achievements are a credit to the hard work of TEGNAs dedicated employees, who are the Companys most valuable asset. Tegna owns more than 60 local television stations in the U.S. and several other media properties. TEGNA offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, includingPremion, TEGNAs OTT advertising service. Living as the station's "chief brand officer", evangelizing the brand and championing all brand-related matters inside the organization.. In June 2015, Gannett spun off its broadcasting division. 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. Being a big, bold thinker/innovator and at times, disruptor, for the station. The most directly comparable GAAP financial measure to free cash flow is Net income attributable to TEGNA. The staff at TEGNA come from unusually diverse demographic backgrounds. 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. For the former Swiss municipality, see, This article is about Tegna, formerly Gannett, as a broadcast and digital media company. 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. Free cash flow is reviewed by the Board of Directors as a percentage of revenue over a trailing two-year period (reflecting both an even and odd year reporting period given the political cyclicality of the business). Tegna owns or operates 68 television stations located in 54 markets (including fourteen duopolies); it also owns two radio stations in Columbus, Ohio. We tell stories that matter, are an advocate for those in need and help bring positive change to our communities. Help other job seekers by rating TEGNA. 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. Anne Bentley TEGNA employees are most likely to be members of the democratic party. It has an unusually high proportion of employees who are members of the Democratic Party, at 87.0%. Good health benefits and great PTO. The salaries at Discovery average $66,912 per year, and the salaries at Univision Holdings, Inc. come in at $65,488 per year. [25][26] The FCC approved the sale on September 16. TEGNA also owns leading multicast networks True Crime Network and Quest. Employees at the parent company, TEGNA, earn $56,684. 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. interests.[49]. AMS revenue was $1.4 billion, down five percent year-over-year due to displacement driven by strong political revenue and continued macroeconomic headwinds. 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. Filtered Search, Enter your email address to subscribe to MBFC and receive notifications of new posts by email. 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. Sard Verbinnen & Co. 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. TEGNA Inc. Reports Second Quarter 2022 Results | Business Wire MBFC Credibility Rating: HIGH CREDIBILITY. [38], Kim began to engage in a proxy fight, with Standard General proposing four nominations to Tegna's board of directors at its next shareholders' meeting in April. 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. The transaction is subject to approval by TEGNA shareholders, regulatory approvals, and other customary closing conditions, and is expected to close in the second half of 2022. TEGNA-SVC@SARDVERB.com, For investor inquiries, contact: Non-GAAP operating expenses less programming and Premion costs were down one percent compared to 2021. TEGNA and FOX Renew Affiliation Agreement - foxcorporation See Where Major Companies Lean Politically - Fast Company Standard General and Tegna, MB Docket 22-162 | Federal Communications 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. 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. 15% of TEGNA employees are Hispanic or Latino. [17] Tegna would be the charter station group as such would receive a minority stake in the network, which launched in January 2018. 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". Posted: March 02, 2023. 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. Advertising and sponsored content generate revenue. [52], On December 9, Tegna greenlit the series for an entire run for the 20162017 broadcast season. 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. investorrelations@TEGNA.com. TEGNA is currently evaluating its options. Affiliates of AGM, as well as Cox Media Group (which is principally owned by AGM, with Cox Enterprises as a minority shareholder) and other investors, will hold non-voting shares in the company. Tegna retained "old" Gannett's stock price history, though it trades under a new ticker symbol, TGNA. In 2015, Tegna Media test-ran a limited-run informative talk show hosted by Dallas-based bishop T. D. Jakes on its owned stations in Dallas, Atlanta, Minneapolis and Cleveland. Employees seem to enjoy working in an otherwise diverse workplace that is dominated by members of the Democratic Party. Pay is not commensurate with experience and talent. Compared to 2020, AMS revenue was up 16 percent driven by increases in television and Premion advertising. 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. 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. Users should consider the limitations of using Adjusted EBITDA, including the fact that this measure does not provide a complete measure of our operating performance. [22][23], In March 2019, Tegna announced its formation of VAULT Studios, its first, in-house digital content studio. 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. KPNX is an NBC affiliate based in Phoenix, Arizona. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. 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. The company believes these adjustments facilitate company-to-company operating performance comparisons by removing potential differences caused by variations unrelated to operating performance, such as capital structures (interest expense), income taxes, and the age and book appreciation of property and equipment (and related depreciation expense). 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 . 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. enrollment in college or vocational school, political affiliation, veteran . TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. 12news.com is the website for KPNX that covers news, sports, and weather. Bias Rating: LEAST BIASED [39] Tegna's shareholders chose to re-elect all 12 current board members. Support MBFC Donations We look forward to building on the Companys strong foundation and leveraging Debs deep industry experience to drive further growth.. TEGNA Parties Democratic Party 87.5 % - Republican Party 12.5 % - Employee Political Donations RECENT CONTENT, PROGRAMMING AND ESG UPDATES. LibGuides: Media Bias: Which Way Does Your News Lean? This page was last edited on 4 March 2023, at 07:53. TEGNA (TGNA) and NBC Ink Multi-Year Deal to Renew Affiliation We remain committed to ensuring that Tegna effectively serves and represents all of our communities., Other alleged incidents in the letter include Black and Latino on-air talent being hammered for their dialect and a marketing executive promoting the use of purple graphics that African American audiences might enjoy..