The document was filed with the SEC by Standard General. Right Bias: How we rate the bias of media sources. TEGNA Inc (TEGNA) is a provider of media services. We calculated the performance score of companies by measuring multiple factors, including revenue, longevity, and stock market performance. Tegna shareholders approved an initial public offering of Cars.com as a publicly traded spin-off in May 2017. Julie Heskett Richard Moody donated $2,850 to the Democratic Party. Automotive advertising revenue rebounded in the quarter with strong year-over-year growth. The allegations in Thursdays filing were made in a six-page, single-spaced letter given to shareholder Standard General, which in turn shared them with Tegna. 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. [17] Tegna would be the charter station group as such would receive a minority stake in the network, which launched in January 2018. 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. 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. Non-GAAP operating expenses less programming and Premion costs were down one percent compared to 2021. In comparison, some of its highest paying competitors, like. Investors also will be able to obtain a free copy of the proxy statement and other documents (when available) filed by the Company with the SEC by accessing the Investors section of the Companys website at http://tegna.com. Sard Verbinnen & Co. 212-355-4449, TEGNA 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. As part of the separation, the company announced that the broadcasting and digital company would be named Tegnaa partial anagram of "Gannett". enrollment in college or vocational school, political affiliation, veteran . $2,850 to the Democratic Party. Dave Lougee is President/CEO at Tegna Inc. See Dave Lougee's compensation, career history, education, & memberships. 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. We are deeply gratified that TEGNAs new owners value and embrace our purpose to serve the greater good of our communities. 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. This page was last edited on 4 March 2023, at 07:53. Gannett Company spun-off most of its internet media properties to Tegna. 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. Non-GAAP expenses less Premion costs increased two percent from 2021, driven primarily by programming expenses. When asked about the allegations, a company spokesperson said improving diversity, equity and inclusionat Tegna is a top priority for the company. 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. 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. TEGNA Inc. is a proud equal opportunity employer. (Press Release). Filtered Search, Enter your email address to subscribe to MBFC and receive notifications of new posts by email. Founded in 1953, 12 News KPNX is an NBC affiliate based in Phoenix, Arizona. Sunday shows preview: US-China relations remain on shaky ground, 2024 election looms. accusations of broad pattern of bias and racially-insensitive behavior that were shared with the media company by its largest active shareholder. Posted: March 02, 2023. TEGNA Inc. is a proud equal opportunity employer. [52], On December 9, Tegna greenlit the series for an entire run for the 20162017 broadcast season. With 63 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network . 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. Subsidiaries to TEGNA include Central Newspapers, Florida Today, and THV11. 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. TEGNAs stations have earned excellent reputations as leading local content providers, and TEGNAs digital and content assets are a key part of its future in an evolving media landscape. [56], In January 2018, Tegna announced a partnership with Sony Pictures Television to handle syndication distribution and advertising sales for its original programs.[57]. Cautionary Statement Regarding Forward-Looking Statements. abentley@TEGNA.com, George Sard/Andy Duberstein 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). Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. The factors described above cannot be controlled by the Company. These achievements are a credit to the hard work of TEGNAs dedicated employees, who are the Companys most valuable asset. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. 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. For more information, visit www.TEGNA.com. 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! by Richard Moody. 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. 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. family responsibilities, disability, enrollment in college or vocational school, political . 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. 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. These sources have minimal bias and use very few loaded words (wording that attempts to influence an audience by appeals to emotion or stereotypes). 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. Employees at the parent company, TEGNA, earn $56,684. 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. The split was completed on June 29, 2015. For the former Swiss municipality, see, This article is about Tegna, formerly Gannett, as a broadcast and digital media company. Other Nexstar/Tribune stations going to Tegna are WZDX/Huntsville, KFSM-TV/Fort SmithFayetteville, WTIC-TVWCCT-TV/Hartford, and WATN-TVWLMT/Memphis. TEGNA offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, includingPremion, TEGNAs OTT advertising service. Note that indicators of conservative interest can change suddenly. 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. TEGNA has great employee retention with staff members usually staying with the company for 5.1 years. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. All waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, applicable to the Merger and related transactions have expired. 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 Inc (TGNA) - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. Like Adjusted EBITDA, free cash flow is not intended to be a measure of cash flow available for managements discretionary use. KPNX also has a section dedicated to politics covering national politics through the Associated Press and local Arizona politics through 12 News TV. Dear Mediacom Customer, As you may be aware, Tegna has been blocking Mediacom customers from watching the local broadcast stations it owns since December 31st. In everything we do, we are driven by our strongly held values and our stated purpose to serve the greater good of our communities. The Community Grant program serves to address local community needs. The reporting is factual and usually sourced. The Company is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this press release by wire service, Internet service providers or other media. 15% of TEGNA employees are Hispanic or Latino. 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. Being a big, bold thinker/innovator and at times, disruptor, for the station. Tegna retained "old" Gannett's stock price history, though it trades under a new ticker symbol, TGNA. 3 min read TEGNA TGNA and Comcast 's CMCSA NBC recently announced the extension. 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 (TGNA) and NBC Ink Multi-Year Deal to Renew . Also, our non-GAAP measures may not be comparable to similarly titled measures of other companies. 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. 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 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. 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. For more information, visitwww.TEGNA.com. Gracia Martore, president and CEO of Tegna, retired and stepped down from the board. 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. 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. 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. 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. One of the most prominent Tegna Digital properties. Investors will be able to obtain a free copy of the proxy statement and other related documents (when available) filed by the Company with the SEC at the website maintained by the SEC at www.sec.gov. The Company undertakes no obligation to update or to revise any forward-looking statements. [48] It still awaits FCC approval. Finally, the website features fact checks from TEGNAs fact check service VERIFY Fact check. 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. Jakes' Talk Show This Summer With 44 Blue Productions, TDJ Enterprises and Enlight Productions TEGNA", "EMPOWERING NEW DAILY TALK SHOW "T.D. None of the information on this page has been provided or approved by TEGNA. In general, the news is reported factually and with minimal bias. TEGNA offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, including Premion, TEGNAs OTT advertising service. 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. Read our profile on the United States government and media. The most directly comparable GAAP financial measure to free cash flow is Net income attributable to TEGNA. TEGNA also owns leading multicast networks True Crime Network and Quest. [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. 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. 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. The broadcasting company retained KPNX, which took the name TEGNA. 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 . TEGNA Inc. (Tegna), and SCGI Holdings III LLC, an affiliate of Standard General L.P. (SCGI and Standard General), have filed applications to transfer control of Tegna and the licenses of 64 full-power television stations and two full-power radio stations from Tegna's current shareholders to SCGI. [15] In June 2017, Tegna announced it had entered into a definitive agreement, together with the other owners of CareerBuilder, to sell CareerBuilder to an investor group led by investments funds managed by affiliates of Apollo Global Management and the board of the Ontario Teachers Pension Plan. On average, employees at TEGNA stay with the company for 5.1 years. Our purpose is to serve the greater good of our communities through empowering stories, impactful investigations and innovative marketing services. 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. Jakes, was co-produced by Debmar-Mercury, Tegna Media, 44 Blue Productions, Jakes' own production company, TDJ Enterprises and EnLight Productions and lasted from August 17, 2016, to September 8, 2017. Does the media have a liberal bias? On June 29, 2015, the Gannett Company split in two, specializing in print media and the other specializing in broadcast and digital media. TEGNA Parties Democratic Party 87.5 % - Republican Party 12.5 % - Employee Political Donations After extensive research and analysis, Zippia's data science team found that: 50% of TEGNA employees are women, while 50% are men. Have you worked at TEGNA? Interest expense decreased to $44 million compared to $46 million in the fourth quarter of 2021 due to lower average debt of $3.1 billion, resulting in net leverage of 2.44x. The station needs an outstanding talent to bring viewers to the biggest sporting events in Indiana including extensive coverage of the . 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. "[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. The national average salary for a TEGNA employee in the United States is $56,684 per year. Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. 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. Cofactor Digital (ShopLocal) On December 15, 2016, sold Cofactor to Liquidus, a digital marketing solutions company. 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. National and International news is provided by the Associated Press as well as other TEGNA TV stations. Will Become Nations Largest Minority-Owned, Woman-Led Broadcast Group. 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. On February 24, 2023, the FCC issued a hearing designation order with respect to the transaction. Living as the station's "chief brand officer", evangelizing the brand and championing all brand-related matters inside the organization.. Free cash flow3 was $297 million for the quarter. Tysons, Va. & Los Angeles, CA - October 28, 2019 TEGNA Inc. (NYSE: TGNA) and Fox Corporation (Nasdaq: FOXA, FOX) ("FOX") today announced a comprehensive, multi-year deal that renews station affiliation agreements for six TEGNA markets, including three stations acquired last month from Nexstar Media Group.. A large media company with 6,883 employees and an annual revenue of $3.0B, TEGNA is headquartered in Virginia. 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. 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. At all levels, we have been tireless in our efforts to ensure TEGNA effectively serves all of our stakeholders, and I am immensely proud of these efforts. Wrong-way driver stopped on I-10 Sunday morning, What Arizona lawmakers have to say about Wednesdays Iran briefing. Does Mexico want to be the next Nicaragua? 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. And as Reagan's son assumed, Apple, Google, and most other major tech companies side with Democrats too. [3][4] It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies.