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. in the U.S. and several other media properties. We are a drug free, EEO employer committed to a diverse workforce. 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. Andy Brimmer/Jamie Moser 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. 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 retained "old" Gannett's stock price history, though it trades under a new ticker symbol, TGNA. 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. For the former Swiss municipality, see, This article is about Tegna, formerly Gannett, as a broadcast and digital media company. On. Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. Unaudited, in thousands of dollars (except per share amounts), Business units - Selling, general and administrative expenses, Corporate - General and administrative expenses, Spectrum repacking reimbursements and other, net, Equity loss in unconsolidated investments, net, Net income attributable to redeemable noncontrolling interest. 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." (adsbygoogle = window.adsbygoogle || []).push({}); Ad-Free Login 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. 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. [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." Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. 12 News KPNX is owned and operated by TEGNA Inc., which operates 66 television stations in 54 markets. The staff at TEGNA come from unusually diverse demographic backgrounds. The company, therefore, believes that each of the non-GAAP measures presented provides useful information to investors and other stakeholders by allowing them to view our business through the eyes of management and our Board of Directors, facilitating comparisons of results across historical periods and focus on the underlying ongoing operating performance of our business. 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. [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. Best Media Companies to Work For in Virginia, Best Media Companies to Work For in McLean, VA. Corporate offers a lot of good benefits and seems to care about employees. We look forward to building on the Companys strong foundation and leveraging Debs deep industry experience to drive further growth.. 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. 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 . These non-GAAP financial measures should not be considered in isolation from, or as a substitute for, the related GAAP measures, nor should they be considered superior to the related GAAP measures, and should be read together with financial information presented on a GAAP basis. 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. [22][23], In March 2019, Tegna announced its formation of VAULT Studios, its first, in-house digital content studio. Total company Adjusted EBITDA2 was $361 million, representing an increase of 47 percent compared to the fourth quarter of 2021. In 2015, Gannett spun off Tegna as a separate public company. Mr. Kim is supported by a diverse, highly experienced 17-person team, including seven investment professionals with over 120 years of collective investing experience. Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. Right Bias: How we rate the bias of media sources. Claiming and updating your company profile on Zippia is free and easy. [3] [4] It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies. TEGNA also owns leading multicast networks True Crime Network and Quest. Joele Frank, Wilkinson Brimmer Katcher 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). 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. All plans give access to our growing exclusive content! 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. 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 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. (M. Huitsing 01/12/2020) Updated (03/21/2022), Last Updated on March 21, 2022 by Media Bias Fact Check, Left vs. This page was last edited on 4 March 2023, at 07:53. We have clear processes for promptly investigating and addressing inappropriate workplace conduct at all levels of the organization. Political revenue was $179 million, up nine percent from 2018, the last non-presidential election year, on a pro forma basis1. TEGNA Inc. is a proud equal opportunity employer. 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. The wages at ION Media Networks average higher than the other similar companies, where the median salary is $72,169 per year. Local information is presented with minimally loaded wording such as this: Wrong-way driver stopped on I-10 Sunday morning. TEGNA also owns leading multicast networks True Crime Network, Twist and Quest. TEGNA achieved net income of $219 million on a GAAP basis, or $221 million on a non-GAAP basis. GAAP and non-GAAP earnings per diluted share were $0.97 and $0.98, respectively. 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. TEGNA Inc. is a proud equal opportunity employer. For more information, visitwww.TEGNA.com. Media Bias Chart (PDF version) Interactive Chart Centrist News ABC News Associated Press BBC News CBS News GAAP earnings per diluted share were $2.81 and non-GAAP earnings per diluted share were $2.83. Dave Lougee - President and Chief Executive . 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,. 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. We are looking for proven leader with strong technical judgment, effective communication skills, possessing an . 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. The station needs an outstanding talent to bring viewers to the biggest sporting events in Indiana including extensive coverage of the . We calculated the performance score of companies by measuring multiple factors, including revenue, longevity, and stock market performance. The company believes that such expenses and gains are not indicative of normal, ongoing operations. 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. 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. And as Reagan's son assumed, Apple, Google, and most other major tech companies side with Democrats too. TEGNA also owns leading multicast networks True Crime Network and Quest. None of the information on this page has been provided or approved by TEGNA. 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. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Sard Verbinnen & Co. 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. The "new" Gannett inherited old Gannett's longtime ticker symbol, GCI. With 49 television stations and two radio stations in 41 markets, TEGNA delivers relevant content and information to consumers across platforms. 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. [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. Non-GAAP expenses less Premion costs increased two percent from the fourth quarter of 2021, driven primarily by programming expenses. Good health benefits and great PTO. You can click/tap on the image to go to the full version of the chart. Free cash flow3 was $297 million for the quarter. Advertising and sponsored content generate revenue. 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. In comparison, the salaries at Central Newspapers, Florida Today, and THV11 are $49,030, $43,214, and $40,711. (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 . Our purpose is to serve the greater good of our communities through empowering stories, impactful investigations and innovative marketing services. The most common ethnicity at TEGNA is White (60%). One of the most prominent Tegna Digital properties. In Q4, Locked On set a quarterly record with a total audience of more than 66 million listens and views. The employee data is based on information from people who have self-reported their past or current employments at TEGNA. [52], On December 9, Tegna greenlit the series for an entire run for the 20162017 broadcast season. [24], On March 20, 2019, Tegna entered an agreement with Nexstar Media Group to acquire eleven stations for $740 million in order to reduce Nexstar's national ownership reach under the federally imposed 39% cap and alleviate ownership conflicts with existing Nexstar properties once it completes a merger with Tribune Media. [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. [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. Despite its diversity in other areas, TEGNA employees are noticeably lacking in political diversity. 12news.com is the website for KPNX that covers news, sports, and weather. Shark Tanks Kevin OLeary blasts Ocasio-Cortez: She kills jobs by the Manchin indicates opposition to Biden lands nominee over internal memo, Michael Steele on Marjorie Taylor Greene: Just shut the hell up, Watch live: White House monkeypox response team holds briefing, Do Not Sell or Share My Personal Information. 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. TEGNA Parties Democratic Party 87.5 % - Republican Party 12.5 % - Employee Political Donations Factual Reporting: HIGH Management and the companys Board of Directors use non-GAAP financial measures for purposes of evaluating company performance. [56], In January 2018, Tegna announced a partnership with Sony Pictures Television to handle syndication distribution and advertising sales for its original programs.[57]. 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. [17] Tegna would be the charter station group as such would receive a minority stake in the network, which launched in January 2018. 703-873-6747 This is 2021, yet the roots of racist behavior within Tegna/Gannett are ugly and run deep. 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. 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 discusses in this release non-GAAP financial performance measures that exclude from its reported GAAP results the impact of "special items" consisting of spectrum repacking reimbursements and other, net, M&A-related costs, advisory fees related to activism defense, certain non-operating items such as expense related to the early extinguishment of debt, a gain on an available for sale investment, and a valuation gain from an investment and an impairment charge recorded for another investment. For more information, visit www.TEGNA.com. The split was completed on June 29, 2015. Press Freedom Rating: MOSTLY FREE 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. This position will report directly to the Regional Head of Technology and Operations. 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. 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. 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. The factors described above cannot be controlled by the Company. Privacy Policy / Your California Privacy Rights. 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. MBFC Credibility Rating: HIGH CREDIBILITY. TEGNA stockholders voted to approve the transaction at the special meeting of stockholders held on May 17, 2022. Tegna owns or operates 66 television stations in 54 markets, and holds properties in digital media. That is where the problem is and will remain unless exposed. Full-Time. Total cash at the end of the quarter was $552 million. 3 min read TEGNA TGNA and Comcast 's CMCSA NBC recently announced the extension. Richard Moody donated $2,850 to the Democratic Party. . TEGNA also owns leading multicast networks True Crime Network, Twist and Quest. KPNX also has a section dedicated to politics covering national politics through the Associated Press and local Arizona politics through 12 News TV. 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. Automotive advertising revenue rebounded in the quarter with strong year-over-year growth. 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). In everything we do, we are driven by our strongly held values and our stated purpose to serve the greater good of our communities. Dave Lougee, President and CEO of TEGNA, said, This transaction is the next step in TEGNAs evolution and recognizes the value of our portfolio of leading broadcast assets and innovative digital brands. [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. The show, titled T.D. [3][4] It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies. 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! TEGNA achieved record net income of $631 million on a GAAP basis, or $637 million on a non-GAAP basis. Living as the station's "chief brand officer", evangelizing the brand and championing all brand-related matters inside the organization.. We also rate them High for factual reporting due to proper sourcing and a clean fact check record. The allegations include an incident of a Tegna employee, whos now a vice president, wearing blackface while dressed as Michael Jackson at a company event in the 1980s.
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