You can click/tap on the image to go to the full version of the chart. Have you worked at TEGNA? We expect 2022 to be another extraordinary. 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. The sale was approved by Standard General and Apollo Global Management on May 17, 2022. 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). Completed Five Year Renewal of Affiliation Agreement with ABC - In January, TEGNA entered into a comprehensive, five year deal through late 2023 with the ABC network that renews the station affiliation agreements for all of the company's ABC-affiliated stations. About 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. 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. [52], On December 9, Tegna greenlit the series for an entire run for the 20162017 broadcast season. 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. 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. TEGNA-SVC@SARDVERB.com, For investor inquiries, contact: All plans give access to our growing exclusive content! Founded in 1953, 12 News KPNX is an NBC affiliate based in Phoenix, Arizona. Claiming and updating your company profile on Zippia is free and easy. National and International news is provided by the Associated Press as well as other TEGNA TV stations. [8] The two companies, however, continued to share a headquarters complex. You can obtain free copies of these documents from the Company using the contact information above. 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. [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. 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. The Company will mail to its stockholders a definitive proxy statement in connection with the proposed transaction. 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. 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. The Company undertakes no obligation to update or to revise any forward-looking statements. Support MBFC Donations GAAP and non-GAAP operating expenses of $2.3 billion were up five percent and four percent year-over-year, respectively, with the increases predominantly driven by investments in Premions growth and programming costs. 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. Non-GAAP operating expenses less programming and Premion costs were down one percent compared to 2021. 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. The transaction, which the. Overall, we rate 12 News KPNX Least Biased based on neutral wording and minimal editorial content. [58] When the total internet media division was part of the Gannett Company, it managed the websites for USA Today, as well as Gannett's newspaper and broadcast properties throughout the United States. TEGNA Inc. is a media company innovating in the digital age. 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. (stylized in all caps as TEGNA) is an American publicly traded broadcast, digital media and marketing services company headquartered in Tysons Corner, Virginia. Tegna retained "old" Gannett's stock price history, though it trades under a new ticker symbol, TGNA. by Richard Moody. Press Freedom Rating: MOSTLY FREE [54], Other shows Tegna Media has on first-run syndication across most of its stations are Sister Circle (also shown on cable network TV One),[55] and reality competition Sing Like A Star. 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,. Posted: March 02, 2023. [11][12] Shortly after, Tegna completed the spin-off of Cars.com, which now trades under a new ticker symbol, CARS. Bias Rating: LEAST BIASED TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Gracia Martore, president and CEO of Tegna, retired and stepped down from the board. It owns: Stations are arranged in alphabetical order by state and city of license. These risks, uncertainties and other factors include, but are not limited to, those discussed under Risk Factors in the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021, and the following: (1) the timing, receipt and terms and conditions of any required governmental or regulatory approvals of the proposed transaction and the related transactions involving the parties that could reduce the anticipated benefits of or cause the parties to abandon the proposed transaction, (2) risks related to the satisfaction of the conditions to closing the proposed transaction (including the failure to obtain necessary regulatory approvals or the approval of the Companys stockholders), and the related transactions involving the parties, in the anticipated timeframe or at all, (3) the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the Companys common stock, (4) disruption from the proposed transaction making it more difficult to maintain business and operational relationships, including retaining and hiring key personnel and maintaining relationships with the Companys customers, vendors and others with whom it does business, (5) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement entered into pursuant to the proposed transaction or of the transactions involving the parties, (6) risks related to disruption of managements attention from the Companys ongoing business operations due to the proposed transaction, (7) significant transaction costs, (8) the risk of litigation and/or regulatory actions related to the proposed transaction or unfavorable results from currently pending litigation and proceedings or litigation and proceedings that could arise in the future, (9) other business effects, including the effects of industry, market, economic, political or regulatory conditions, (10) information technology system failures, data security breaches, data privacy compliance, network disruptions, and cybersecurity, malware or ransomware attacks, and (11) changes resulting from the COVID-19 pandemic, which could exacerbate any of the risks described above. 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." 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. TEGNA Inc. is a proud equal opportunity employer. The staff at TEGNA come from unusually diverse demographic backgrounds. [7] The spin-out was structured so that "old" Gannett changed its name to Tegna, Inc., then spun off its newspaper holdings into a "new" Gannett. GAAP earnings per diluted share were $2.81 and non-GAAP earnings per diluted share were $2.83. Unsurprisingly, Tom's and Seventh Generation jump to the top of left-leaning companies. 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. Note that indicators of conservative interest can change suddenly. VERIFY has 385,000 followers across its dedicated channels. TEGNA Inc (TEGNA) is a provider of media services. The closing of the transaction remains subject to the approval of the Federal Communications Commission (the "FCC") and customary closing conditions. Tegna comprised the more profitable broadcast television and digital media divisions of the old Gannett, while Gannett's publishing interests were spun off as a "new" company that retained the Gannett name. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. 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. 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. [3] [4] It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies. 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. 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. With 49 television stations and two radio stations in 41 markets, TEGNA delivers relevant content and information to consumers across platforms. 14% of TEGNA employees are Black or African American. The factors described above cannot be controlled by the Company. [53], T.D. 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. Employees at the parent company, TEGNA, earn $56,684. WHEC-TV's frequency was shared with WVET-TV, owned by Veterans Broadcasting, from its 1953 sign-on until 1961 when Gannett purchased full ownership of the frequency. We are deeply gratified that TEGNAs new owners value and embrace our purpose to serve the greater good of our communities. 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. 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. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. [4][9][10], In September 2016, Tegna announced plans to spin off Cars.com to create two independent publicly traded companies. We are a drug free, EEO employer committed to a diverse workforce. Based on our research, similar companies to TEGNA are ION Media Networks, Discovery, and Univision Holdings, Inc. Jakes' Talk Show This Summer With 44 Blue Productions, TDJ Enterprises and Enlight Productions TEGNA", "EMPOWERING NEW DAILY TALK SHOW "T.D. Richard Moody donated These are the most credible media sources. THE COMPANY URGES YOU TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE PROPOSED TRANSACTION AND RELATED MATTERS. TEGNA also owns leading multicast networks True Crime Network, Twist and Quest. 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 . 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. Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. Standard General is a minority-controlled and operated organization. Media Bias Chart (PDF version) Interactive Chart Centrist News ABC News Associated Press BBC News CBS News Media Type: TV Station Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. TEGNA stockholders voted to approve the transaction at the special meeting of stockholders held on May 17, 2022. 3 min read TEGNA TGNA and Comcast 's CMCSA NBC recently announced the extension. Sunday shows preview: US-China relations remain on shaky ground, 2024 election looms. enrollment in college or vocational school, political affiliation, veteran . 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. It has an unusually high proportion of employees who are members of the Democratic Party, at 87.0%. Country: USA 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. 12 News KPNX is owned and operated by TEGNA Inc., which operates 66 television stations in 54 markets. 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. Further, the website does not publish editorial commentary. Tegna also owns three digital multicast networks (True Crime Network, Quest, and Twist).