(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 . [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. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Tegna owns or operates 68 television stations located in 54 markets (including fourteen duopolies); it also owns two radio stations in Columbus, Ohio. [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. We calculated the diversity score of companies by measuring multiple factors, including the ethnic background, gender identity, and language skills of their workforce. Record subscription revenue of $1.5 billion was up four percent year-over-year, driven by rate increases and partially offset by subscriber declines. 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. Media Type: TV Station Tegna owns more than 60 local television stations in the U.S. and several other media properties. Tegna Inc. is a media company engaged in providing stories, investigations and marketing services. Standard General was founded in 2007 and manages capital for public and private pension funds, endowments, foundations, and high-net-worth individuals. Total company Adjusted EBITDA was $948 million, down seven percent year-over-year due to the absence of record high-margin political revenue reported in 2020. 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. Cautionary Statement Regarding Forward-Looking Statements. Political revenue was $179 million, up nine percent from 2018, the last non-presidential election year, on a pro forma basis1. Revenues increased 6.2% year over . They state TEGNAs purpose is to serve the greater good of our communities. Other Nexstar/Tribune stations going to Tegna are WZDX/Huntsville, KFSM-TV/Fort SmithFayetteville, WTIC-TVWCCT-TV/Hartford, and WATN-TVWLMT/Memphis. Funding. In Q4, Locked On set a quarterly record with a total audience of more than 66 million listens and views. Claiming and updating your company profile on Zippia is free and easy. 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. Additionally, the company announced that it would buy out the remainder of Classified Ventures (a joint venture between Tegna and several other media companies) for $1.8billion, giving it full ownership of properties such as Cars.com.[5][6]. Political revenue was a record for a non-presidential election year at $341 million, up 21 percent from 2018 on a pro forma basis1. The salaries at Discovery average $66,912 per year, and the salaries at Univision Holdings, Inc. come in at $65,488 per year. Further, the website does not publish editorial commentary. [18] The range of programming on the network would be engineering and science, human achievements, military history and natural history. $2,850 to the Democratic Party. Read our profile on the United States government and media. We calculated the performance score of companies by measuring multiple factors, including revenue, longevity, and stock market performance. (M. Huitsing 01/12/2020) Updated (03/21/2022), Last Updated on March 21, 2022 by Media Bias Fact Check, Left vs. 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. Full-Time. Living as the station's "chief brand officer", evangelizing the brand and championing all brand-related matters inside the organization.. Achieved record year for company revenue, subscription revenue, net income, and Adjusted EBITDA, Achieved sustained progress toward TEGNAs 2025 Diversity, Equity and Inclusion (DE&I) goals to grow Black, Indigenous and People of Color (BIPOC) representation in company leadership as well as content teams. The Company will mail to its stockholders a definitive proxy statement in connection with the proposed transaction. Cofactor Digital (ShopLocal) On December 15, 2016, sold Cofactor to Liquidus, a digital marketing solutions company. As community needs differ by region, please check with your local Community Grant contact to learn what needs are being addressed in your area. Dave Lougee - President and Chief Executive . family responsibilities, disability, enrollment in college or vocational school, political . 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. 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. 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. Finally, the website features fact checks from TEGNAs fact check service VERIFY Fact check. Advertising and sponsored content generate revenue. [21], On August 20, 2018, Tegna agreed to purchase two stations spun off from the Gray Television-Raycom Media merger, CBS affiliate WTOL-TV in Toledo (the sale likely includes rights to an existing shared services agreement with American Spirit Media-owned Fox affiliate WUPW) and NBC affiliate KWES-TV in Odessa in order to alleviate ownership conflicts involving Gray's ownership of ABC affiliate WTVG in the Toledo market and CBS affiliate KOSA-TV in the Odessa market. Vice President, Corporate Communications in the U.S. and several other media properties. Tegna shareholders approved an initial public offering of Cars.com as a publicly traded spin-off in May 2017. We are a drug free, EEO employer committed to a diverse workforce. 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. A syndicate of banks led by RBC Capital Markets will provide debt financing. 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. Does the media have a liberal bias? 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. GAAP and non-GAAP earnings per diluted share were $0.97 and $0.98, respectively. 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. The Company and certain of its directors, executive officers and employees may be considered to be participants in the solicitation of proxies from the Companys stockholders in connection with the proposed transaction. Non-GAAP operating expenses less programming and Premion costs were down one percent compared to 2021. KPNX also has a section dedicated to politics covering national politics through the Associated Press and local Arizona politics through 12 News TV. [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. We are excited to partner again with Deb McDermott, who previously spearheaded the broadcast group at Media General, where Standard General was a principal shareholder. Good health benefits and great PTO. KPNX also has a section dedicated to politics covering national politics through the Associated Press and local Arizona politics through 12 News TV. 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. The Company undertakes no obligation to update or to revise any forward-looking statements. TEGNA has great employee retention with staff members usually staying with the company for 5.1 years. [39] Tegna's shareholders chose to re-elect all 12 current board members. The transaction, which the. 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, 2022, including the following: (1) the timing, receipt and terms and conditions of any required governmental or regulatory approvals of the proposed transaction between TEGNA and affiliates of Standard General and the related transactions involving the parties to the proposed transaction 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), and the related transactions involving the parties to the proposed transaction, 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 could make 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 to the proposed transaction, (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, and (10) information technology system failures, data security breaches, data privacy compliance, network disruptions, and cybersecurity, malware or ransomware attacks. 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. Note that indicators of conservative interest can change suddenly. Automotive advertising revenue rebounded in the quarter with strong year-over-year growth. Numerical coincidence prompted $754M Powerball winner to buy ticket: It was a sign, Texas GOP votes to censure Rep. Tony Gonzales over support on gun, same-sex legislation, Three things to know about what critics are calling Mississippis Jim Crow bill, Want to save the climate? 3 min read TEGNA TGNA and Comcast 's CMCSA NBC recently announced the extension. And as Reagan's son assumed, Apple, Google, and most other major tech companies side with Democrats too. Also, our non-GAAP measures may not be comparable to similarly titled measures of other companies. A large media company with 6,883 employees and an annual revenue of $3.0B, TEGNA is headquartered in Virginia. Corporate offers a lot of good benefits and seems to care about employees. Andy Brimmer/Jamie Moser On. Support MBFC Donations 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. [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. 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. The Company undertakes no obligation to update or to revise any forward-looking statements. TEGNA Inc. is a media company innovating in the digital age. Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. 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,. [22][23], In March 2019, Tegna announced its formation of VAULT Studios, its first, in-house digital content studio. One of the most prominent Tegna Digital properties. 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. 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). 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. It has an unusually high proportion of employees who are members of the Democratic Party, at 87.0%. 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. They state. 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". 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. With 63 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top . (Press Release). TEGNA achieved record net income of $631 million on a GAAP basis, or $637 million on a non-GAAP basis. Dave Lougee is President/CEO at Tegna Inc. See Dave Lougee's compensation, career history, education, & memberships. 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". Here's one research-based answer to the question of liberal bias: The documentary The Myth of the Liberal Media: The Propaganda Model of News uses empirical evidence to look at ownership of the mainstream news media, filters that affect what news gets published, and examples of actual news coverage in order to show that conservative political and corporate . Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. "[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. Fair Use Policy Gannett purchased the construction permit for WINR-TV and signed the station on in 1957. However, the distorted picture of Tegna and its stations painted by Standard General to advance its ill-conceived proxy fight will not distract from our significant focus on DE&I [diversity, equity and inclusion] as well as our strong financial performance.. TEGNA INC MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-K) . 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 owns or operates 66 television stations in 54 markets, and holds properties in digital media. As part of the separation, the company announced that the broadcasting and digital company would be named Tegnaa partial anagram of "Gannett". 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. 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. [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. Help us make this company more transparent. Im very excited about what the future holds for TEGNA.. VERIFY has 385,000 followers across its dedicated channels. 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 . Will Become Nations Largest Minority-Owned, Woman-Led Broadcast Group. The transaction was unanimously approved by the TEGNA Board. 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. TEGNA Employees Give Back to Their Local Communities During 2022, TEGNA employees gave back to their local communities by volunteering and donating to their favorite causes. 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. Bias Rating: LEAST BIASED 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. Stations are listed alphabetically by state and city of license. 15% of TEGNA employees are Hispanic or Latino. Hopefully, your team can look into this and get Tegna cleaned up from the top. 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. One of the most dominant and far-reaching media companies in U.S. history just got even bigger, and there's a chance it could affect the way huge swaths of people get news but there's a good. TEGNA Stations Live, Local and Always on Streaming Apps Reach Nearly 800,000 Installs and over 1 billion Minutes Viewed in 2022 During 2022, TEGNA stations streaming apps were installed nearly 800,000 times on Roku and Fire TV and audiences logged more than 1 billion minutes of viewing. In October 2022, Chair of the House Energy and Commerce Committee Frank Pallone and Speaker of the House Nancy Pelosi issued a letter to the FCC expressing concerns for the transaction, arguing that it "would violate the FCC's mandate by restricting access to local news coverage, cutting jobs at local television stations, and raising prices on consumers." RECENT CONTENT, PROGRAMMING AND ESG UPDATES. 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. 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. 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. In review, 12 News KPNX reports local news primarily through TV news video and accompanying text. 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. The Community Grant program serves to address local community needs. 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 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. 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. 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. 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. In comparison, some of its highest paying competitors, like. [4][9][10], In September 2016, Tegna announced plans to spin off Cars.com to create two independent publicly traded companies. 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. Good luck, the letter concluded. [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. Advertising and sponsored content generate revenue. 212-355-4449, TEGNA The largest donation made to a political party by a TEGNA employee was TEGNA also delivers innovative and unparalleled solutions for advertisers through TEGNA Marketing Solutions (TMS). Richard Moody donated Non-GAAP expenses less Premion costs increased two percent from 2021, driven primarily by programming expenses. The broadcasting company retained KPNX, which took the name, 12 News KPNX is owned and operated by TEGNA Inc., which operates 66 television stations in 54 markets. 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.