How Gracia Martore went on the offensive at Gannett and Tegna On TikTok, which represents the brands fastest growing audience, VERIFYS followers grew from 4,000 to nearly 140,000 year-over-year. Posted: March 02, 2023. And as Reagan's son assumed, Apple, Google, and most other major tech companies side with Democrats too. enrollment in college or vocational school, political affiliation, veteran . 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 shareholders approved an initial public offering of Cars.com as a publicly traded spin-off in May 2017. 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 . This page was last edited on 4 March 2023, at 07:53. The closing of the transaction remains subject to the approval of the Federal Communications Commission (the "FCC") and customary closing conditions. Non-GAAP operating expenses less programming and Premion costs were down one percent compared to the fourth quarter of 2021. 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 (TGNA) and NBC extend partnership with multi-year deal to renew station affiliation agreements for 20 TEGNA markets in the United States. 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. 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. [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. 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. In comparison, some of its highest paying competitors, like. TEGNA (TGNA) and NBC Ink Multi-Year Deal to Renew Affiliation Press Freedom Rating: MOSTLY FREE Like Adjusted EBITDA, free cash flow is not intended to be a measure of cash flow available for managements discretionary use. TEGNA employees are most likely to be members of the democratic party. In connection with the proposed transaction, the Company will file relevant materials with the U.S. Securities and Exchange Commission (the SEC), including a proxy statement on Schedule 14A. 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. in the U.S. and several other media properties. 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. Read our profile on the United States government and media. The reporting is factual and usually sourced. TEGNA Inc (TGNA) Q4 2020 Earnings Call Transcript Dave Lougee, Tegna Inc: Profile and Biography - Bloomberg Markets 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. Tegna owns or operates 68 television stations located in 54 markets (including fourteen duopolies); it also owns two radio stations in Columbus, Ohio. The broadcasting company retained KPNX, which took the name TEGNA. 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. A newSecurities and Exchange Commission (SEC) filingconcerningTegna includesaccusations of broad pattern of bias and racially-insensitive behavior that were shared with the media company by its largest active shareholder. In June 2015, Gannett spun off its broadcasting division. 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. Standard General is a minority-controlled and operated organization. Hopefully, your team can look into this and get Tegna cleaned up from the top. In these roles, she has served as a key member of the leadership teams responsible for the successful acquisition, integration, and operation of more than 90 stations. All waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, applicable to the Merger and related transactions have expired. Sard Verbinnen & Co. Using a database of 30 million profiles, Zippia estimates demographics and statistics for TEGNA. 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. With 63 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top . 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'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. The company creates and delivers television programming and digital content, and information across various platforms. 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. 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. 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. 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. J.P. Morgan Securities LLC is acting as lead financial advisor, with Greenhill & Co. also acting as a financial advisor to TEGNA, and Wachtell Lipton Rosen & Katz and Covington & Burling LLP are acting as its legal advisors. TEGNA Inc. Reports Second Quarter 2022 Results | Business Wire 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. We are a drug free, EEO employer committed to a diverse workforce. Richard Moody donated Political revenue was a record for a non-presidential election year at $341 million, up 21 percent from 2018 on a pro forma basis1. 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. 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. [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. 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. 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). TEGNA Employee Political Affiliation TEGNA employees are most likely to be members of the Democratic Party. TEGNA (TGNA) and NBC Ink Multi-Year Deal to Renew Affiliation Free cash flow3 was $297 million for the quarter. investorrelations@TEGNA.com. 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. 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. [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." TEGNA Inc. Reports Fourth Quarter and Full-Year 2022 Results Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. It operates approximately 64 television stations in over 51 United States markets and owns four network affiliates in approximately 25 markets among independent station groups, reaching approximately 39 % of all television households nationwide. Senior Vice President, Financial Planning & Analysis Compared to 2020, AMS revenue was up 16 percent driven by increases in television and Premion advertising. On February 22, 2022, TEGNA Inc. and Standard General L.P. announced that TEGNA and an affiliate of Standard General entered into a definitive agreement under which TEGNA will be acquired. Each such statement speaks only as of the day it was made. 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. TEGNA also owns leading multicast networks True Crime Network and Quest. Also after closing, Premion is expected to operate as a standalone business majority owned by Cox Media Group and Standard General. In 2015, Gannett spun off Tegna as a separate public company. We are deeply gratified that TEGNAs new owners value and embrace our purpose to serve the greater good of our communities. We encourage and consider all qualified candidates regardless of race, color, religion, national origin, sex, age, marital status, personal appearance, sexual orientation, gender identity, family responsibilities, disability . TEGNA Foundation [3][4] It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. The transaction, which the. TEGNA Inc. Reports Fourth Quarter and Full-Year 2022 Results What you need to know from Costco's earnings call TEGNA Inc. Reports Fourth Quarter and Full-Year 2022 Results February 27,. 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. 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,. 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. 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. Tegna retained "old" Gannett's stock price history, though it trades under a new ticker symbol, TGNA. TEGNA INC. : Shareholders Board Members Managers and Company Profile 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. 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. Why the 'Trump factor' means record revenue for Tegna KPNX is an NBC affiliate based in Phoenix, Arizona. We have never been more certain of the importance of our role than we are today. Tegna's digital advertising subsidiary Premion will be held as a standalone business between Standard and CMG. 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. [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. 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. The show, titled T.D. Using rigorous methodology, the media bias chart evaluates popular media outlets and the way in which they tend to lean: centrist, conservative, or liberal. The factors described above cannot be controlled by the Company. A large media company with 6,883 employees and an annual revenue of $3.0B, TEGNA is headquartered in Virginia. 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". Thanks to the teams stellar execution of the Companys value-creation strategy, TEGNA has positioned itself as a leading broadcast television group serving the greater good of the communities in which we operate and as a private company will have an enhanced ability to keep evolving its local news, programming, and marketing solutions to serve its communities in a rapidly changing media landscape., Soo Kim, Founding Partner of Standard General, commented, As long-term investors in the television broadcasting industry, we have a deep admiration for TEGNA and the stations it operates and, in particular, for TEGNAs talented employees and their commitment to serving their communities. 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). 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. 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. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. 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. AMS revenue was $1.4 billion, down five percent year-over-year due to displacement driven by strong political revenue and continued macroeconomic headwinds. Jakes' Talk Show This Summer With 44 Blue Productions, TDJ Enterprises and Enlight Productions TEGNA", "EMPOWERING NEW DAILY TALK SHOW "T.D. 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. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the stockholders of the Company in connection with the proposed transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise, will be included in the proxy statement when it is filed with the SEC. Filtered Search, Enter your email address to subscribe to MBFC and receive notifications of new posts by email. [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. After evaluating this opportunity against TEGNAs standalone prospects and other strategic alternatives, our Board concluded that this transaction maximizes value for TEGNA shareholders. TEGNA Inc. Reports Fourth Quarter and Full-Year 2022 Results Total company Adjusted EBITDA2 was a record of $1.1 billion, representing an increase of 19 percent compared to 2021 driven by high-margin political and subscription revenues, as well as ongoing cost management to ensure efficient operations. [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. [48] It still awaits FCC approval. TEGNA Inc Company Profile - Overview - GlobalData . Tegna Inc (TGNA) Q3 2021 Earnings Call Transcript by Richard Moody. TEGNA also delivers innovative and unparalleled solutions for advertisers through TEGNA Marketing Solutions (TMS). See Where Major Companies Lean Politically - Fast Company TEGNA achieved net income of $219 million on a GAAP basis, or $221 million on a non-GAAP basis. A new Securities and Exchange Commission (SEC) filing concerning Tegna includes accusations of "broad pattern of bias and racially-insensitive behavior" that were shared with the media company. Pay is not commensurate with experience and talent. Best Media Companies to Work For in Virginia, Best Media Companies to Work For in McLean, VA. Mr. Kim is supported by a diverse, highly experienced 17-person team, including seven investment professionals with over 120 years of collective investing experience. The filing comes against the backdrop of a proxy battle between Tegna and Standard General, a hedge fund that owns a 7 percent stake in Tegna, according to a separate SEC filing. TEGNA Inc. is a media company innovating in the digital age. 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. LibGuides: Media Bias: Which Way Does Your News Lean? Howard D. Elias, Chairman of the TEGNA Board, said, We are pleased to have reached this agreement with Standard General, which follows a thorough review of acquisition proposals received by the Company. After extensive research and analysis, Zippia's data science team found that: 50% of TEGNA employees are women, while 50% are men. Media Bias Chart (PDF version) Interactive Chart Centrist News ABC News Associated Press BBC News CBS News TEGNA may also be known as or be related to TEGNA, TEGNA Inc, TEGNA Inc., Tegna, Tegna Inc. and Tegna, Inc. TEGNA produces trusted, impactful and innovative content across platforms. WDAN-TV changed call letters to WICD following its sale, and in 1967 was merged with WCHU (channel 33) in Champaign into the present-day. As community needs differ by region, please check with your local Community Grant contact to learn what needs are being addressed in your area. Ms. McDermott currently serves as CEO of Standard Media and has more than 20 years of experience leading broadcast groups, including previously serving as COO of Media General and as CEO and President of Young Broadcasting. Have you worked at TEGNA? 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. Tegna Inc (TGNA) 8-K Earnings Release - Mar 2019 We have clear processes for promptly investigating and addressing inappropriate workplace conduct at all levels of the organization. [4][9][10], In September 2016, Tegna announced plans to spin off Cars.com to create two independent publicly traded companies.

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