TEGNA Inc (TGNA) Q4 2020 Earnings Call Transcript Sunday shows preview: US-China relations remain on shaky ground, 2024 election looms. Using rigorous methodology, the media bias chart evaluates popular media outlets and the way in which they tend to lean: centrist, conservative, or liberal. Advertising and sponsored content generate revenue. 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.. TEGNA-SVC@SARDVERB.com, For investor inquiries, contact: The company is 49.5% female and 39.7% ethnic minorities. On February 22, 2022, TEGNA Inc.and Standard General L.P. announcedthat TEGNAand an affiliate of Standard General entered into a definitive agreement under which TEGNAwill be acquired by the Standard General affiliate for $24.00per share in cash. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. In review, 12 News KPNX reports local news primarily through TV news video and accompanying text. [39][43][44][45] The company stated that Lougee "immediately acknowledged the incident and has stated that he made a mistake, for which he had apologized immediately at the time". Claiming and updating your company profile on Zippia is free and easy. Tegna Inc (TGNA) Q3 2021 Earnings Call Transcript VERIFY has 385,000 followers across its dedicated channels. 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. WBNS-TV, Central Ohio's News Leader, seeks a passionate, ambitious Anchor/Reporter to join our team. Automotive advertising revenue rebounded in the quarter with strong year-over-year growth. 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. Revenues increased 6.2% year over . Kim accepted the result of the vote, stating that the actions had helped to "[challenge] managements narrative about the Companys performance and seeking greater transparency about Tegnas numbers, acquisition metrics, and engagement with third parties. Media Type: TV Station In addition, the company owns seven CW affiliates (including three digital subchannels of KFMB-TV, KYTX, and WMAZ-TV), three Estrella TV affiliates (including two digital subchannels of KENS and KVUE), ten MyNetworkTV affiliates (including five digital subchannels of KFMB-TV, KIDY, KXVA, WQAD-TV, and WZDX), three independent stations (including two digital subchannels of KTVB and its satellite of KTFT-LD), a low-powered MeTV affiliate, and a Quest owned-and-operated station. These achievements are a credit to the hard work of TEGNAs dedicated employees, who are the Companys most valuable asset. TEGNA offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, including Premion, TEGNAs OTT advertising service. 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. 12news.com is the website for KPNX that covers news, sports, and weather. Cooper Media's president and general manager Brian Weiss transferred to Tegna and continue managing the two networks. 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. 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. Senior Vice President, Financial Planning & Analysis Management and the companys Board of Directors use non-GAAP financial measures for purposes of evaluating company performance. [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. 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. The show, titled T.D. TEGNAs purpose is to serve the greater good of our communities. 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. Wrong-way driver stopped on I-10 Sunday morning, What Arizona lawmakers have to say about Wednesdays Iran briefing. The transaction is subject to approval by TEGNA shareholders, regulatory approvals, and other customary closing conditions, and is expected to close in the second half of 2022. TEGNA is ranked #13 on the Best Media Companies to Work For in Virginia list. TEGNA hiring Marketing and Commercial Producer in Macon, Georgia Tegna Inc Management'S Discussion and Analysis of Financial Condition 212-355-4449, TEGNA [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. 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. Standard General and Tegna, MB Docket 22-162 | Federal Communications National and International news is provided by the Associated Press as well as other TEGNA TV stations. The most directly comparable GAAP financial measure to Adjusted EBITDA is Net income attributable to TEGNA. TEGNA also delivers innovative and unparalleled solutions for advertisers through TEGNA Marketing Solutions (TMS). 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. Non-GAAP operating expenses less programming and Premion costs were down one percent compared to 2021. The studio's first content would be true crime podcasts, drawing on its station news content. Additional Information and Where to Find It. Watch live: Trump, Bolsonaro and more take the stage on Day 3 of CPAC, Twitter discloses another possible government censorship effort. [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. TEGNA Inc. (NYSE: TGNA) today announced financial results for the second quarter ended June 30, 2022. . Our hard work has built a company that is a leading and trusted local news and media content provider in the markets it serves and has fostered a culture of diversity and inclusiveness. 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. investorrelations@TEGNA.com. 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. With 63 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top . Sard Verbinnen & Co. The average employee at TEGNA makes $56,684 per year. Dave Lougee - President and Chief Executive . 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. 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. With 49 television stations and two radio stations in 41 markets, TEGNA delivers relevant content and information to consumers across platforms. [8] The two companies, however, continued to share a headquarters complex. 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. Free cash flow is calculated as non-GAAP Adjusted EBITDA (as defined above), further adjusted by adding back (1) stock-based compensation, (2) non-cash 401(k) company match, (3) syndicated programming amortization, (4) dividends received from equity method investments (5) reimbursements from spectrum repacking, and (6) proceeds from company-owned life insurance policies. WDAN-TV changed call letters to WICD following its sale, and in 1967 was merged with WCHU (channel 33) in Champaign into the present-day. The company believes that such expenses and gains are not indicative of normal, ongoing operations. 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". Why the 'Trump factor' means record revenue for Tegna 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. 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, reaching approximately 39 percent of all television households nationwide. Vice President, Corporate Communications Political revenue was a record for a non-presidential election year at $341 million, up 21 percent from 2018 on a pro forma basis1. Julie Heskett 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. Users should consider the limitations of using Adjusted EBITDA, including the fact that this measure does not provide a complete measure of our operating performance. 703-873-6747 The factors described above cannot be controlled by the Company. Email from Mediacom about Tegna stations : Iowa - reddit 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 . Following the close of the transaction, Deb McDermott will become CEO and Mr. Kim will serve as Chairman of a new Board. When asked about the allegations, a company spokesperson said improving diversity, equity and inclusionat Tegna is a top priority for the company. Because of this, WHEC-TV and WDAN-TV are the only television stations built from the ground-up by Gannett. [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. 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. Sports Multi-Skilled Journalist Job in Indianapolis, IN at Tegna 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. Its television stations has a digital presence on mobile, online, and social platforms. These cable networks were owned by Belo prior to acquisition by Gannett/Tegna: "TEGNA" redirects here. 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. 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. [37][46][47], The sale will also result in the realignment of station holdings presently associated with both companies: Standard Media's four stations WDKA, WLNE, KBSI, and KLKN will be sold to Cox Media Group, which will then divest its Boston station WFXT to an affiliate of Standard General, and acquire WFAA/KMPX, KHOU/KTBU, and KVUE, from Tegna.[37][46][47]. Good luck, the letter concluded. Im very excited about what the future holds for TEGNA.. The most common ethnicity at TEGNA is White (60%). In review, 12 News KPNX reports local news primarily through TV news video and accompanying text. Marketing Director Job in Washington, DC - Tegna | CareerBuilder.com 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. 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. Anne Bentley The Company undertakes no obligation to update or to revise any forward-looking statements. TEGNA Inc (TGNA) - Strategy, SWOT and Corporate Finance Report 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. [20] The acquisition was completed on February 15, 2018. Head of Technology & Chief Engineer job in Huntsville at Tegna Digital Sales Strat-TEST Position Job in Phoenix, AZ - Tegna TEGNA Inc. (TGNA) CEO Dave Lougee on Q3 2020 Results - SeekingAlpha TEGNA also owns leading multicast networks True Crime Network and Quest. An obvious source for the justification is recent news. [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. TEGNA Inc. Reports Fourth Quarter and Full-Year 2022 Results TEGNA DO NOT APPLY-METEOROLOGIST Job in Phoenix, AZ | Glassdoor TEGNA Inc. is a proud equal opportunity employer. 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! 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. [16], Tegna and Cooper Media, parent corporation of the Justice Network, announced on November 7, 2017, a new multicast network, Quest. 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]. Hopefully, your team can look into this and get Tegna cleaned up from the top. The network saw over 800 million minutes of watch time in 2022, a 502 percent increase year-over-year. 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. Each such statement speaks only as of the day it was made. Richard Moody donated $2,850 to the Democratic Party. 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. Country: USA (Press Release). How Gracia Martore went on the offensive at Gannett and Tegna 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. Living as the station's "chief brand officer", evangelizing the brand and championing all brand-related matters inside the organization.. TEGNA Inc. (TGNA) Up 3.4% Since Last Earnings Report: Can It Continue? Tegna owns or operates 68 television stations located in 54 markets (including fourteen duopolies); it also owns two radio stations in Columbus, Ohio. 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 . 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. Therefore, while we may incur or recognize these types of expenses and gains in the future, the company believes that removing these items for purposes of calculating the non-GAAP financial measures provides investors with a more focused presentation of our ongoing operating performance. Tysons, Va. and New York TEGNA Inc. (NYSE: TGNA) and Standard General L.P. today announced that TEGNA and an affiliate of Standard General have entered into a definitive agreement under which TEGNA will be acquired by the Standard General affiliate for $24.00 per share in cash. The closing of the transaction remains subject to the approval of the Federal Communications Commission (the "FCC") and customary closing conditions. None of the information on this page has been provided or approved by TEGNA. Several categories grew year-over-year such as entertainment, travel and tourism, services, and home improvement. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. 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. Dave Lougee is President/CEO at Tegna Inc. See Dave Lougee's compensation, career history, education, & memberships. Press Freedom Rating: MOSTLY FREE accusations of broad pattern of bias and racially-insensitive behavior that were shared with the media company by its largest active shareholder. Fair Use Policy TYSONS, Va., February 27, 2023--(BUSINESS WIRE)--TEGNA Inc. (NYSE: TGNA) today announced financial results for the fourth quarter and full-year ended December 31, 2022. 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. Good health benefits and great PTO. Three things to know about what critics are calling Mississippis Jim Judiciary Democrats go after GOP whistleblowers in FBI probes, Trump asks for roughly six-month delay in New York fraud case, Pelosi on DC crime bill: I wish Biden wouldve told us first, Mike Lindell calls DeSantis a Trojan Horse. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. GAAP and non-GAAP operating income totaled $328 million and $331 million, respectively. We also rate them High for factual reporting due to proper sourcing and a clean fact check record. TEGNA has renewed retransmission consent agreements representing approximately 30 percent of our subscribers since our prior quarterly release on November 9, 2022. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. A syndicate of banks led by RBC Capital Markets will provide debt financing. 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 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. Being a big, bold thinker/innovator and at times, disruptor, for the station. The company also believes these non-GAAP measures are frequently used by investors, securities analysts and other interested parties in their evaluation of our business and other companies in the broadcast industry. TEGNA is currently evaluating its options. Despite its diversity in other areas, TEGNA employees are noticeably lacking in political diversity. 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. TEGNA Inc. Reports Third Quarter 2022 Results [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 preparation forTegnas annual shareholders meeting scheduled for May 7. Since 2020, advertising trends have seen significant broad-based strength across all advertising categories, except auto and insurance in this two-year comparison. [4][9][10], In September 2016, Tegna announced plans to spin off Cars.com to create two independent publicly traded companies.
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