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[45], On February 22, 2022, Tegna announced that it had agreed to be taken private by a group led by Standard General and Apollo Global Management for $24 per-share, valuing the company at $5.4 billion. 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. 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! However, the distorted picture of Tegna and its stations painted by Standard General to advance its ill-conceived proxy fight will not distract from our significant focus on DE&I [diversity, equity and inclusion] as well as our strong financial performance.. Additional Information and Where to Find It. 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). Right Bias: How we rate the bias of media sources. abentley@TEGNA.com, George Sard/Andy Duberstein Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. Buy a coal mine, Marianne Williamson officially launches long-shot bid for 2024, Securities and Exchange Commission (SEC) filing, Steve Bannon blasts Murdochs, Fox News in fiery CPAC speech, Legal experts say Fox News on shaky legal ground in Dominion lawsuit, Youngkin to take part in CNN town hall amid 2024 speculation, Bill Maher: I am afraid of Trump on a very personal level, FBI Dir accuses China of obfuscating Covid investigation, Poll finds Ron DeSantis top choice for 2024 GOP nominee, What Biden might try next if his student loan forgiveness plan is struck down, Trump reigns supreme at a diminished CPAC, Haley to hit Trump on spending record in closed-door Saturday speech. Its television stations has a digital presence on mobile, online, and social platforms. 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. In 2015, Tegna Media test-ran a limited-run informative talk show hosted by Dallas-based bishop T. D. Jakes on its owned stations in Dallas, Atlanta, Minneapolis and Cleveland. The filing comes less than a month after media attorney and consultant Adonis Hoffman withdrew himself from the bid 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. [11][12] Shortly after, Tegna completed the spin-off of Cars.com, which now trades under a new ticker symbol, CARS. Compared to 2020, total company revenue was up 12 percent driven by record subscription revenue and growth in AMS revenue fueled by Premion, partially offset by reduced political revenue. TEGNA-SVC@SARDVERB.com, For investor inquiries, contact: We are a drug free, EEO employer committed to a diverse workforce. 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. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. The wages at ION Media Networks average higher than the other similar companies, where the median salary is $72,169 per year. 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. TEGNA has great employee retention with staff members usually staying with the company for 5.1 years. 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. 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 The Company undertakes no obligation to update or to revise any forward-looking statements. $2,850 to the Democratic Party. The factors described above cannot be controlled by the Company. And as Reagan's son assumed, Apple, Google, and most other major tech companies side with Democrats too. In 2015, Gannett spun off Tegna as a separate public company. [53], T.D. We have clear processes for promptly investigating and addressing inappropriate workplace conduct at all levels of the organization. The 11 markets renewed cover . 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.. 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. On track to complete proposed acquisition by an affiliate of Standard General in the second half of 2022, subject to regulatory approvals and customary closing conditions TYSONS, Va., November 09,. Best Media Companies to Work For in Virginia, Best Media Companies to Work For in McLean, VA. [33], A carriage dispute with DirecTV, beginning on December 2, 2020, resulted in the removal of at least 60 Tegna stations in 51 markets, covering about 39% of TV homes, from the DirecTV, AT&T U-verse and AT&T TV streaming platforms. Cooper Media's president and general manager Brian Weiss transferred to Tegna and continue managing the two networks. 12news.com is the website for KPNX that covers news, sports, and weather. Andy Brimmer/Jamie Moser [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." 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. On TikTok, which represents the brands fastest growing audience, VERIFYS followers grew from 4,000 to nearly 140,000 year-over-year. 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. 703-873-6366 [16], Tegna and Cooper Media, parent corporation of the Justice Network, announced on November 7, 2017, a new multicast network, Quest. 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. These cable networks were owned by Belo prior to acquisition by Gannett/Tegna: "TEGNA" redirects here. [48] It still awaits FCC approval. 1 "Pro forma" reflects our 2019 acquisitions of certain television stations divested by Gray, Dispatch, Nexstar and Tribune as if they had been completed on January 1, 2018. 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. This position will report directly to the Regional Head of Technology and Operations. Tegna retained "old" Gannett's stock price history, though it trades under a new ticker symbol, TGNA. NEW YORK and TYSONS, Va., June 6, 2019 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) and TEGNA Inc. (NYSE: TGNA) today announced a comprehensive, multi-year deal that renews station affiliation agreements for 11 TEGNA markets nationwide, including two top 10 markets - Washington, D.C. and Houston, Texas. 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. We are deeply gratified that TEGNAs new owners value and embrace our purpose to serve the greater good of our communities. Doug Kuckelman - Head of Investor Relations. (Press Release). Im very excited about what the future holds for TEGNA.. It also provides operational services to another Fox affiliate, WUPW in Toledo, through a shared services agreement with that station's owner American Spirit Media (agreements that were carried over from WTOL's previous ownership; ASM had acted in a similar capacity with several stations). VERIFY Extends Reach in 2022 Unique visitors to VERIFYThis.com, TEGNAs national fact-checking brand dedicated to combating misinformation, increased sequentially each quarter in 2022, attracting more than 12 million visitors overall. Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. Sunday shows preview: US-China relations remain on shaky ground, 2024 election looms. Our estimates are verified against BLS, Census, and current job openings data for accuracy. 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. JAKES" SET TO PREMIERE MONDAY, SEPTEMBER 12, 2016 TEGNA", "Exclusive: Tegna's 'BOLD' to Be Renamed 'Daily Blast Live', Tegna, TV One to Launch Daily Talk Show Sister Circle, TEGNA Announces Sing Like a Star, New Singing Competition Premiering September 16, "NATPE Roundup: Fox TV Stations Renew 'Page Six TV,' Sony Pictures TV Teams With Tegna", "How This New Platform Plans to Make Buying Ads on Streaming Services Easier", http://investors.tegna.com/news-releases/news-release-details/tegna-acquires-leading-local-sports-podcast-network-locked, https://awfulannouncing.com/podcasts/tegna-acquires-locked-on-podcast-network.html, "Meredith Buying Three Stations From Gannett", "Meredith Corp. closes on $177million purchase of KMOV", https://en.wikipedia.org/w/index.php?title=Tegna_Inc.&oldid=1142769168, Defunct, went silent in 1954, frequency now used by. 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. Vice President, Corporate Communications Each such statement speaks only as of the day it was made. 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. We are a drug free, EEO employer committed to a diverse workforce. 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. Non-GAAP operating expenses less programming and Premion costs were down one percent compared to 2021. Gracia Martore, president and CEO of Tegna, retired and stepped down from the board. Revenues increased 6.2% year over . The employee data is based on information from people who have self-reported their past or current employments at TEGNA. 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. Based on our research, similar companies to TEGNA are ION Media Networks, Discovery, and Univision Holdings, Inc. Included are stations WOI-DTKCWI-DT in Des Moines and WQAD-TV, based in Moline, Illinois but also serving neighboring Davenport and Pennsylvania (WPMT/Harrisburg and WNEP-TV/ScrantonWilkes-Barre). TEGNA has renewed retransmission consent agreements representing approximately 30 percent of our subscribers since our prior quarterly release on November 9, 2022. These are the most credible media sources. Involved in the Gannett Company's 1997 station trade deal with. 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. 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. We tell stories that matter, are an advocate for those in need and help bring positive change to our communities. The company creates and delivers television programming and digital content, and information across various platforms. 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. 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. The network saw over 800 million minutes of watch time in 2022, a 502 percent increase year-over-year. 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. [35] On October 18, Dish Network filed a complaint with the Federal Communications Commission against Tegna. 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. 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. (M. Huitsing 01/12/2020) Updated (03/21/2022), Last Updated on March 21, 2022 by Media Bias Fact Check, Left vs. 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, 2020 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021, and the following: (1) the timing, receipt and terms and conditions of any required governmental or regulatory approvals of the proposed transaction and the related transactions involving the parties 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 or the approval of the Companys stockholders), and the related transactions involving the parties, 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 making 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, (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, (10) information technology system failures, data security breaches, data privacy compliance, network disruptions, and cybersecurity, malware or ransomware attacks, and (11) changes resulting from the COVID-19 pandemic, which could exacerbate any of the risks described above. This is 2021, yet the roots of racist behavior within Tegna/Gannett are ugly and run deep. (adsbygoogle = window.adsbygoogle || []).push({}); Ad-Free Login Compared to 2020, fourth quarter AMS revenue was up slightly driven by strong growth in most categories including entertainment, services, and travel and tourism, partially offset by macroeconomic headwinds impacting, auto, insurance, and retail in this two-year comparison. [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. [56], In January 2018, Tegna announced a partnership with Sony Pictures Television to handle syndication distribution and advertising sales for its original programs.[57]. 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,. You can obtain free copies of these documents from the Company using the contact information above. The factors described above cannot be controlled by the Company. Automotive advertising revenue rebounded in the quarter with strong year-over-year growth. Our purpose is to serve the greater good of our communities through empowering stories, impactful investigations and innovative marketing services. This earnings release also discusses free cash flow, a non-GAAP performance measure that the Board of Directors uses to review the performance of the business. 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. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. 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. 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. 12news.com is the website for KPNX that covers news, sports, and weather. 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. After evaluating this opportunity against TEGNAs standalone prospects and other strategic alternatives, our Board concluded that this transaction maximizes value for TEGNA shareholders. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Since 2020, advertising trends have seen significant broad-based strength across all advertising categories, except auto and insurance in this two-year comparison. Mr. Kim is supported by a diverse, highly experienced 17-person team, including seven investment professionals with over 120 years of collective investing experience. 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. Other major sources include 2ndVote, a research provider that scores companies from 5 (most conservative) to 1 (most liberal), and OpenSecrets, an online database that tracks political donations in the U.S. Posted: March 02, 2023. [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]. All waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, applicable to the Merger and related transactions have expired. About TEGNA. 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. Standard General We are a drug free, EEO employer committed to a diverse workforce. In review, 12 News KPNX reports local news primarily through TV news video and accompanying text. See all Least Biased Sources. Local information is presented with minimally loaded wording such as this: Wrong-way driver stopped on I-10 Sunday morning. Overall, we rate 12 News KPNX Least Biased based on neutral wording and minimal editorial content. Again, the wording is low biased such as this: What Arizona lawmakers have to say about Wednesdays Iran briefing. 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 all television households nationwide. 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 . 703-873-6747 Richard Moody donated [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. by Richard Moody. 12 News KPNX is owned and operated by TEGNA Inc., which operates 66 television stations in 54 markets. In everything we do, we are driven by our strongly held values and our stated purpose to serve the greater good of our communities. For the trailing two-year period ending December 31, 2022, free cash flow as a percentage of revenue was 21.8 percent. [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. 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. A large media company with 6,883 employees and an annual revenue of $3.0B, TEGNA is headquartered in Virginia. The TEGNA Foundation supports nonprofit organizations in communities served by TEGNA Inc. For more information, visit www.TEGNA.com. For more information, visitwww.TEGNA.com. TEGNA Inc. (NYSE: TGNA) today announced financial results for the second quarter ended June 30, 2022. . 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. 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. The document was filed with the SEC by Standard General. Following the close of the transaction, Deb McDermott will become CEO and Mr. Kim will serve as Chairman of a new Board. 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. Unsurprisingly, Tom's and Seventh Generation jump to the top of left-leaning companies. 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. 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. accusations of broad pattern of bias and racially-insensitive behavior that were shared with the media company by its largest active shareholder. 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. 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. Country: USA TEGNA Inc. is a proud equal opportunity employer. THE HILL 1625 K STREET, NW SUITE 900 WASHINGTON DC 20006 | 202-628-8500 TEL | 202-628-8503 FAX. 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. With 49 television stations and two radio stations in 41 markets, TEGNA delivers relevant content and information to consumers across platforms. Living as the station's "chief brand officer", evangelizing the brand and championing all brand-related matters inside the organization.. 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). in the U.S. and several other media properties. 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. We calculated the performance score of companies by measuring multiple factors, including revenue, longevity, and stock market performance. TEGNAs employees deserve tremendous credit for their commitment to serving our viewers with high-quality news and content that informs and supports our local communities. The Company undertakes no obligation to update or to revise any forward-looking statements. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Joele Frank, Wilkinson Brimmer Katcher 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.