Again, the wording is low biased such as this: What Arizona lawmakers have to say about Wednesdays Iran briefing. The data presented on this page does not represent the view of TEGNA and its employees or that of Zippia. In Q4, Locked On set a quarterly record with a total audience of more than 66 million listens and views. [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". Tegna owns or operates 66 television stations in 54 markets, and holds properties in digital media. 12news.com is the website for KPNX that covers news, sports, and weather. The transaction consideration represents a premium of approximately 39% to TEGNAs unaffected closing share price on September 14, 2021, the last full trading day prior to media speculation about a potential sale of TEGNA, and a premium of approximately 11% to TEGNAs all-time high closing price since separation from the Gannett publishing business in 2015. WBNS-TV, Central Ohio's News Leader, seeks a passionate, ambitious Anchor/Reporter to join our team. The split was completed on June 29, 2015. 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. Our estimates are verified against BLS, Census, and current job openings data for accuracy. TEGNA also owns leading multicast networks True Crime Network and Quest. We are a drug free, EEO employer committed to a diverse workforce. A large media company with 6,883 employees and an annual revenue of $3.0B, TEGNA is headquartered in Virginia. TEGNA has renewed retransmission consent agreements representing approximately 30 percent of our subscribers since our prior quarterly release on November 9, 2022. Mr. Kim is supported by a diverse, highly experienced 17-person team, including seven investment professionals with over 120 years of collective investing experience. 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. 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. It has an unusually high proportion of employees who are members of the Democratic Party, at 87.0%. 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. WHEC-TV's frequency was shared with WVET-TV, owned by Veterans Broadcasting, from its 1953 sign-on until 1961 when Gannett purchased full ownership of the frequency. 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. 3 min read TEGNA TGNA and Comcast 's CMCSA NBC recently announced the extension. [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. 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. THE HILL 1625 K STREET, NW SUITE 900 WASHINGTON DC 20006 | 202-628-8500 TEL | 202-628-8503 FAX. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. Subscription revenue was a fourth quarter record of $372 million, up 11 percent year-over-year, due to rate increases, partially offset by subscriber declines and the comparison to the DISH disruption in 2021. Finally, the website features fact checks from TEGNAs fact check service VERIFY Fact check. 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. TEGNA achieved net income of $219 million on a GAAP basis, or $221 million on a non-GAAP basis. 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. 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. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. [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. Political revenue was a second quarter record of $51 million up 53 percent from 2018, the . 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. We calculated the diversity score of companies by measuring multiple factors, including the ethnic background, gender identity, and language skills of their workforce. 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. We are a drug free, EEO employer committed to a diverse workforce. For Gannett as a publishing company, see, This list related to film, television, or video is, Sale to Standard General and Apollo Global Management, Satellites, semi-satellites and translators. [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." Tegna retained "old" Gannett's stock price history, though it trades under a new ticker symbol, TGNA. Tegna comprised the more profitable broadcast television and digital media divisions of the old Gannett, while Gannett's publishing interests were spun off as a "new" company that retained the Gannett name. TEGNA Inc (TEGNA) is a provider of media services. This position will report directly to the Regional Head of Technology and Operations. enrollment in college or vocational school, political affiliation, veteran . TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. 2022 Key ESG Highlights and SASB Disclosure Today, we published our 2022 Key Highlights and SASB Disclosure for the Media & Entertainment industry standard, which outline the steps we have taken to live our purpose of serving the greater good of our local communities. On June 29, 2015, the Gannett Company split in two, specializing in print media and the other specializing in broadcast and digital media. Revenues increased 6.2% year over . TEGNA offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, includingPremion, TEGNAs OTT advertising service. Fair Use Policy We look forward to building on the Companys strong foundation and leveraging Debs deep industry experience to drive further growth.. Filtered Search, Enter your email address to subscribe to MBFC and receive notifications of new posts by email. The employee data is based on information from people who have self-reported their past or current employments at TEGNA. Record subscription revenue of $1.5 billion was up four percent year-over-year, driven by rate increases and partially offset by subscriber declines. Founded in 1953, 12 News KPNX is an NBC affiliate based in Phoenix, Arizona. [39] Tegna's shareholders chose to re-elect all 12 current board members. 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. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. The average employee at TEGNA makes $56,684 per year. 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. Full-Time. 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. TEGNA's mission statement is "To serve the greater good of our communities. 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. Funding. 212-355-4449, TEGNA TEGNA also delivers innovative and unparalleled solutions for advertisers through TEGNA Marketing Solutions (TMS). The list includes stations owned by Tegna, Inc. during its former existence as the Gannett Company subsidiary Gannett Broadcasting, Inc. [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. Gannett Company spun-off most of its internet media properties to Tegna. Each such statement speaks only as of the day it was made. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. (M. Huitsing 01/12/2020) Updated (03/21/2022), Last Updated on March 21, 2022 by Media Bias Fact Check, Left vs. 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". The Company undertakes no obligation to update or to revise any forward-looking statements. 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. National and International news is provided by the Associated Press as well as other TEGNA TV stations. With 49 television stations and two radio stations in 41 markets, TEGNA delivers relevant content and information to consumers across platforms. The reporting is factual and usually sourced. It owns: Stations are arranged in alphabetical order by state and city of license. 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. The studio's first content would be true crime podcasts, drawing on its station news content. Gracia Martore, president and CEO of Tegna, retired and stepped down from the board. TEGNA also owns leading multicast networks True Crime Network, Twist and Quest. [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]. Tegna owns more than 60 local television stations in the U.S. and several other media properties. 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. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. KPNX is an NBC affiliate based in Phoenix, Arizona. The local affiliate I work for in Des Moines is very poorly managed. 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 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. 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. Note that indicators of conservative interest can change suddenly. Have you worked at TEGNA? TEGNA is ranked #13 on the Best Media Companies to Work For in Virginia list. Because of this, WHEC-TV and WDAN-TV are the only television stations built from the ground-up by Gannett. An obvious source for the justification is recent news. Advertising and sponsored content generate revenue. These achievements are a credit to the hard work of TEGNAs dedicated employees, who are the Companys most valuable asset. As reported, our political revenues in 2020 were almost double that of 2018 and almost three times that of 2016, the prior presidential election year. Forward-looking statements in this communication may include, without limitation: statements about the potential benefits of the proposed acquisition, anticipated growth rates, the Companys plans, objectives, expectations, and the anticipated timing of closing the proposed transaction. The document was filed with the SEC by Standard Generalin preparation forTegnas annual shareholders meeting scheduled for May 7. [25][26] The FCC approved the sale on September 16. TEGNA employees are most likely to be members of the Democratic Party. As community needs differ by region, please check with your local Community Grant contact to learn what needs are being addressed in your area. The most directly comparable GAAP financial measure to Adjusted EBITDA is Net income attributable to TEGNA. Cooper Media's president and general manager Brian Weiss transferred to Tegna and continue managing the two networks. Press Freedom Rating: MOSTLY FREE . Owned by Sander Media from 2013 to 2015 and operated by Gannett/Tegna prior to its acquisition by Tegna Inc. in 2015. 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. Bias Rating: LEAST BIASED All waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, applicable to the Merger and related transactions have expired. Will Become Nations Largest Minority-Owned, Woman-Led Broadcast Group. Gannett purchased the construction permit for WINR-TV and signed the station on in 1957. Dave Lougee - President and Chief Executive . Cofactor Digital (ShopLocal) On December 15, 2016, sold Cofactor to Liquidus, a digital marketing solutions company. Privacy Policy / Your California Privacy Rights. [48] It still awaits FCC approval. Pay is not commensurate with experience and talent. The largest donation made to a political party by a TEGNA employee was You can obtain free copies of these documents from the Company using the contact information above. With 63 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network . [16], Tegna and Cooper Media, parent corporation of the Justice Network, announced on November 7, 2017, a new multicast network, Quest. 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. The largest donation made to a political party by a TEGNA employee was by Richard Moody. The Company and certain of its directors, executive officers and employees may be considered to be participants in the solicitation of proxies from the Companys stockholders in connection with the proposed transaction. 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,.
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