The sale was approved by Standard General and Apollo Global Management on May 17, 2022. 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. TEGNA Inc. is a media company innovating in the digital age. 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 Company undertakes no obligation to update or to revise any forward-looking statements. We are looking for proven leader with strong technical judgment, effective communication skills, possessing an . 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. Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. [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. [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. We have clear processes for promptly investigating and addressing inappropriate workplace conduct at all levels of the organization. Total cash at the end of the quarter was $552 million. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. 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,. 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 most directly comparable GAAP financial measure to free cash flow is Net income attributable to 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. [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. Im very excited about what the future holds 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. The new agreement includes full carriage of the FOX broadcast network . 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 INC. : Shareholders Board Members Managers and Company Profile The 20 markets renewed cover 17 percent of the U.S. audience and nearly 21 . . TEGNA achieved record net income of $631 million on a GAAP basis, or $637 million on a non-GAAP basis. Exposing corruption and wrongdoing, holding elected officials and those in power accountable, giving a voice to the voiceless and telling empowering stories that impact our lives is at the heart of our purpose to serve the greater good. We look forward to building on the Companys strong foundation and leveraging Debs deep industry experience to drive further growth.. None of the information on this page has been provided or approved by TEGNA. Its television stations has a digital presence on mobile, online, and social platforms. Like Adjusted EBITDA, free cash flow is not intended to be a measure of cash flow available for managements discretionary use. in preparation forTegnas annual shareholders meeting scheduled for May 7. 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. [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. 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. WZDX, the TEGNA-owned FOX affiliate in Huntsville AL, has an opening for an experienced, versatile Head of Technology and Operations. 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 accused of 'broad pattern of bias and racially-insensitive We have made significant progress in recent years, but our record is not perfect, the spokesperson said in an emailed statement. The company, which will retain the Tegna name, will be controlled by an affiliate of Standard General, with Standard Media CEO Deb McDermott (who previously led Young Broadcasting and Media General) becoming CEO. WBNS-TV, Central Ohio's News Leader, seeks a passionate, ambitious Anchor/Reporter to join our team. [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. [53], T.D. TEGNA employees are most likely to be members of the democratic party. 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. in the U.S. and several other media properties. On February 22, 2022, TEGNA Inc. and Standard General L.P. announcedthat TEGNA and an affiliate of Standard General entered into a definitive agreement under which TEGNA will be acquired by. TEGNA Inc. Reports Third Quarter 2022 Results TEGNA hiring Account Executive in Knoxville, Tennessee, United States GAAP and non-GAAP operating income totaled $328 million and $331 million, respectively. 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. 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". 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 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. 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. [17] Tegna would be the charter station group as such would receive a minority stake in the network, which launched in January 2018. The most directly comparable GAAP financial measure to Adjusted EBITDA is Net income attributable to TEGNA. (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 . Robert Dickey who led Gannett's newspaper group would continue as CEO of the company as a sole newspaper publisher, leaving the former broadcasting and digital operations under the leadership of Gracia Martore. Exposing corruption and wrongdoing, holding elected officials and those in power accountable, giving a voice to the voiceless and telling empowering stories that impact our lives is at the heart of our purpose to serve the greater good.". On TikTok, which represents the brands fastest growing audience, VERIFYS followers grew from 4,000 to nearly 140,000 year-over-year. Following the close of the transaction, Deb McDermott will become CEO and Mr. Kim will serve as Chairman of a new Board. LibGuides: Media Bias: Which Way Does Your News Lean? 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. Wrong-way driver stopped on I-10 Sunday morning, What Arizona lawmakers have to say about Wednesdays Iran briefing. TEGNA hiring Producer in Corpus Christi, Texas, United States | LinkedIn Media Type: TV Station You may also find additional information about the Companys directors and executive officers in the Companys definitive proxy statement for its 2021 annual meeting of stockholders, which was filed with the SEC on March 26, 2021 and in subsequently filed Current Reports on Form 8-K, Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. MBFC Credibility Rating: HIGH CREDIBILITY. The 11 markets renewed cover . tegna inc political affiliation - blueskyma.com [4][9][10], In September 2016, Tegna announced plans to spin off Cars.com to create two independent publicly traded companies. This is 2021, yet the roots of racist behavior within Tegna/Gannett are ugly and run deep. 703-873-6366 by Richard Moody. [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 (TGNA) and NBC Ink Multi-Year Deal to Renew Affiliation On February 24, 2023, the FCC issued a hearing designation order with respect to the transaction. Vice President, Corporate Communications Automotive advertising revenue rebounded in the quarter with strong year-over-year growth. Management and the companys Board of Directors use non-GAAP financial measures for purposes of evaluating company performance. The closing of the transaction remains subject to the approval of the Federal Communications Commission (the "FCC") and customary closing conditions. The factors described above cannot be controlled by the Company. KPNX is an NBC affiliate based in Phoenix, Arizona. On June 29, 2015, the Gannett Company split in two, specializing in print media and the other specializing in broadcast and digital media. . (adsbygoogle = window.adsbygoogle || []).push({}); Ad-Free Login The information is 100% accurate and fairly easy to verify. 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. Tegna owns or operates 66 television stations in 54 markets, and holds properties in digital media. Have you worked at TEGNA? 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 TEGNA Inc. (NYSE: TGNA) today announced financial results for the second quarter ended June 30, 2022. . Tegnas Board of Directors, management team and station leadership continue to take concerted action to build a more diverse, equitable and inclusive Tegna all of which is publicly detailed, the spokesperson added. Marketing Director Job in Washington, DC - Tegna | CareerBuilder.com In terms of audience reach, Tegna is the largest group owner of NBC-affiliated stations, ahead of Hearst Television and Sinclair Broadcast Group, and the fourth-largest group owner of ABC affiliates, behind Hearst, the E. W. Scripps Company, and Sinclair. TEGNA Inc. Reports Third Quarter 2022 Results | TEGNA Inc. With 63 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top . 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. 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? The local affiliate I work for in Des Moines is very poorly managed. Apple tops ranking of global companies with the most 'green' revenue, UPDATE 2-North Korea says UN should demand end to S.Korea-US military drills, US Treasury puts cost of outbound investment risk program at $10 million, US Jobs Report and Powell Testimony Take Center Stage: Eco Week, Bond Mavens Favor Curve Wagers for Next Encounter With Jobs Data. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. 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 by the Standard General affiliate for $24.00 per share in cash. We expect 2022 to be another extraordinary. Digital Sales Strat-TEST Position Job in Phoenix, AZ - Tegna 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]. We are a drug free, EEO employer committed to a diverse workforce. [39] Tegna's shareholders chose to re-elect all 12 current board members. Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. The Company undertakes no obligation to update or to revise any forward-looking statements. GAAP operating expenses were $589 million, up four percent year-over-year, and non-GAAP operating expenses were $587 million, up four percent year-over-year, with the increases predominantly driven by investments in Premions growth and programming costs. Since 2020, advertising trends have seen significant broad-based strength across all advertising categories, except auto and insurance in this two-year comparison. 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. 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. 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. (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. 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. 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. THE HILL 1625 K STREET, NW SUITE 900 WASHINGTON DC 20006 | 202-628-8500 TEL | 202-628-8503 FAX. 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. National and International news is provided by the Associated Press as well as other TEGNA TV stations. Compared to 2020, AMS revenue was up 16 percent driven by increases in television and Premion advertising. 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 . Political revenue was a record for a non-presidential election year at $341 million, up 21 percent from 2018 on a pro forma basis1. TEGNA-SVC@SARDVERB.com, For investor inquiries, contact: KPNX also has a section dedicated to politics covering national politics through the Associated Press and local Arizona politics through 12 News TV. [36] However, on February 4, 2022, Dish Network finally reached to an agreement with Tegna, resulting with all Tegna owned stations coming back. 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. Non-GAAP expenses less Premion costs increased two percent from the fourth quarter of 2021, driven primarily by programming expenses. 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. TEGNA also delivers innovative and unparalleled solutions for advertisers through TEGNA Marketing Solutions (TMS). In everything we do, we are driven by our strongly held values and our stated purpose to serve the greater good of our communities. Local information is presented with minimally loaded wording such as this: Wrong-way driver stopped on I-10 Sunday morning. 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. The transaction, which the. Good health benefits and great PTO. The largest donation made to a political party by a TEGNA employee was The company is 49.5% female and 39.7% ethnic minorities. Tegna Inc Management'S Discussion and Analysis of Financial Condition Richard Moody donated $2,850 to the Democratic Party. 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. 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 Inc. (NYSE:TGNA) Q3 2020 Earnings Conference Call November 9, 2020 9:00 AM ET. Political revenue was $179 million, up nine percent from 2018, the last non-presidential election year, on a pro forma basis1. Cautionary Statement Regarding Forward-Looking Statements. 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. KPNX also has a section dedicated to politics covering national politics through the Associated Press and local Arizona politics through 12 News TV. TEGNA also owns leading multicast networks True Crime Network, Twist and Quest. 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. 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. For more information, visitwww.TEGNA.com. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. This page was last edited on 4 March 2023, at 07:53. [14], Prior to the company's completion of the spin-off of Cars.com, it was reported by DealReporter that Nexstar Media Group may be considering a bid to acquire Tegna.
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