The network saw over 800 million minutes of watch time in 2022, a 502 percent increase year-over-year. MBFC Credibility Rating: HIGH CREDIBILITY. GAAP and non-GAAP earnings per diluted share were $0.97 and $0.98, respectively. That is where the problem is and will remain unless exposed. Despite its diversity in other areas, TEGNA employees are noticeably lacking in political diversity. The document was filed with the SEC by Standard General. The "new" Gannett inherited old Gannett's longtime ticker symbol, GCI. [35] On October 18, Dish Network filed a complaint with the Federal Communications Commission against Tegna. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. It has an unusually high proportion of employees who are members of the Democratic Party, at 87.0%. It owns: Stations are arranged in alphabetical order by state and city of license. [36] However, on February 4, 2022, Dish Network finally reached to an agreement with Tegna, resulting with all Tegna owned stations coming back. They also referenced image consultants advising Asian reporters how to use makeup so their eyes looked more Western and requiring Latinx employees to disclose their own immigration status when broadcasting about such issues. The letter did not mention how recently those two instances or practices occurred. 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. The largest donation made to a political party by a TEGNA employee was In everything we do, we are driven by our strongly held values and our stated purpose to serve the greater good of our communities. 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]. Standard General is a minority-controlled and operated organization. On June 29, 2015, the Gannett Company split in two, specializing in print media and the other specializing in broadcast and digital media. TEGNA's third-quarter 2022 non-GAAP earnings of 65 cents per share missed the Zacks Consensus Estimate by 9.72% but increased 12.1% on a year-over-year basis. Involved in the Gannett Company's 1997 station trade deal with. 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. 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. 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. Ad-Free Sign up 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. One of the most prominent Tegna Digital properties. 12news.com is the website for KPNX that covers news, sports, and weather. Using a database of 30 million profiles, Zippia estimates demographics and statistics for TEGNA. Does the media have a liberal bias? This position will report directly to the Regional Head of Technology and Operations. On February 22, 2022, TEGNA Inc. and Standard General L.P. announced that TEGNA and an affiliate of Standard General entered into a definitive agreement under which TEGNA will be acquired. With 63 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top 25 markets among independent station groups, reaching approximately 39 percent of. TEGNA Inc. is a proud equal opportunity employer. Richard Moody donated 703-873-6747 Funding. A syndicate of banks led by RBC Capital Markets will provide debt financing. 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. For more information, visit www.TEGNA.com. The 20 markets renewed cover 17 percent of the U.S. audience and nearly 21 . 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. Corporate offers a lot of good benefits and seems to care about employees. Do Democrats need a past superstar to hold the White House in 2024? Im very excited about what the future holds for TEGNA.. 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. TEGNA Inc. - 2020 Annual Report Letter To Shareholders Dear Fellow Shareholders, TEGNA's 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%). 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. Free cash flow3 was $297 million for the quarter. 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. Media Bias Chart (PDF version) Interactive Chart Centrist News ABC News Associated Press BBC News CBS News TEGNA also delivers innovative and unparalleled solutions for advertisers through TEGNA Marketing Solutions (TMS). Reconciliations of certain line items impacted by special items to the most directly comparable financial measure calculated and presented in accordance with GAAP on the company's Consolidated Statements of Income follow: (a) Per share amounts do not sum due to rounding. TEGNA Inc. is a proud equal opportunity employer. The filing comes against the backdrop of a proxy battle between Tegna and Standard General, a hedge fund that owns a 7 percent stake in Tegna, according to, The filing comes less than a month after media attorney and consultant Adonis Hoffman. 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. With 63 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network . investorrelations@TEGNA.com. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. 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. Bias Rating: LEAST BIASED [49] Standard General responded to the letter, denying that they planned to cut jobs or hub content, and promoting that Tegna would become the largest female-run and minority-owned broadcaster in the United States. 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. Have you worked at TEGNA? Andy Brimmer/Jamie Moser Additional Information and Where to Find It. TEGNA Q3 Earnings Lag Estimates, Revenues Rise Y/Y TEGNA's third-quarter 2022 non-GAAP earnings of 65 cents per share missed the Zacks Consensus Estimate by 9.72% but increased 12.1% on a year . All plans give access to our growing exclusive content! In 2012, before Tegna made its 2015 split from newspaper publishing company Gannett Co. Inc., political advertising hit $56 million in revenue in the third quarter and $144 million in the fourth . Cooper Media's president and general manager Brian Weiss transferred to Tegna and continue managing the two networks. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. $2,850 to the Democratic Party. Again, the wording is low biased such as this: What Arizona lawmakers have to say about Wednesdays Iran briefing. 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. 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 sources have minimal bias and use very few loaded words (wording that attempts to influence an audience by appeals to emotion or stereotypes). 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. 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. All waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, applicable to the Merger and related transactions have expired. 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. You can click/tap on the image to go to the full version of the chart. Total company revenue was down two percent from the fourth quarter of 2020 due to reduced political revenue compared to 2020s presidential election cycle, partially offset by record fourth quarter subscription revenue in 2022. National and International news is provided by the Associated Press as well as other TEGNA TV stations. Our estimates are verified against BLS, Census, and current job openings data for accuracy. TEGNA's mission statement is "To serve the greater good of our communities. The staff at TEGNA come from unusually diverse demographic backgrounds. To serve the greater good of our communities. A newSecurities and Exchange Commission (SEC) filingconcerningTegna includesaccusations of broad pattern of bias and racially-insensitive behavior that were shared with the media company by its largest active shareholder. [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". The factors described above cannot be controlled by the Company. Gannett purchased the construction permit for WINR-TV and signed the station on in 1957. [27], On May 6, 2019, it was reported that Tegna was going to acquire the 85% of the Justice Network and Quest from Cooper Media that it did not own already for $77 Million to close by the end of the second quarter. 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 owns or operates 66 television stations in 54 markets, and holds properties in digital media. TEGNA achieved net income of $219 million on a GAAP basis, or $221 million on a non-GAAP basis. [29] The sale was approved by the FCC on July 29, 2019,[30] and was completed on August 8. The transaction, which the. Read our profile on the United States government and media. For more information, visitwww.TEGNA.com. 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 split was completed on June 29, 2015. The company creates and delivers television programming and digital content, and information across various platforms. 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. [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. Vice President, Corporate Communications 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. TEGNA is ranked #13 on the Best Media Companies to Work For in Virginia list. 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. Total company Adjusted EBITDA2 was $361 million, representing an increase of 47 percent compared to the fourth quarter of 2021. Because of this, WHEC-TV and WDAN-TV are the only television stations built from the ground-up by Gannett. Privacy Policy / Your California Privacy Rights. 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. . 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. The Company undertakes no obligation to update or to revise any forward-looking statements. With 63 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top . Owned by Sander Media from 2013 to 2015 and operated by Gannett/Tegna prior to its acquisition by Tegna Inc. in 2015. TEGNA offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, includingPremion, TEGNAs OTT advertising service. Pay is not commensurate with experience and talent. In a statement, she explained that the split plans were "significant next steps in our ongoing initiatives to increase shareholder value by building scale, increasing cash flow, sharpening management focus, and strengthening all of our businesses to compete effectively in today's increasingly digital landscape." The station needs an outstanding talent to bring viewers to the biggest sporting events in Indiana including extensive coverage of the . [22][23], In March 2019, Tegna announced its formation of VAULT Studios, its first, in-house digital content studio. 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. Good luck, the letter concluded. In these roles, she has served as a key member of the leadership teams responsible for the successful acquisition, integration, and operation of more than 90 stations. Stations are listed alphabetically by state and city of license. (M. Huitsing 01/12/2020) Updated (03/21/2022), Last Updated on March 21, 2022 by Media Bias Fact Check, Left vs. About TEGNA. . We remain committed to ensuring that Tegna effectively serves and represents all of our communities., Other alleged incidents in the letter include Black and Latino on-air talent being hammered for their dialect and a marketing executive promoting the use of purple graphics that African American audiences might enjoy.. Using rigorous methodology, the media bias chart evaluates popular media outlets and the way in which they tend to lean: centrist, conservative, or liberal. 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. 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's digital advertising subsidiary Premion will be held as a standalone business between Standard and CMG. 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. Political revenue was $179 million, up nine percent from 2018, the last non-presidential election year, on a pro forma basis1. Mr. Kim is supported by a diverse, highly experienced 17-person team, including seven investment professionals with over 120 years of collective investing experience. Wrong-way driver stopped on I-10 Sunday morning, What Arizona lawmakers have to say about Wednesdays Iran briefing. TEGNA is currently evaluating its options. The reporting is factual and usually sourced. Tegna shareholders approved an initial public offering of Cars.com as a publicly traded spin-off in May 2017. 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. In 2015, Gannett spun off Tegna as a separate public company. The Company is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this press release by wire service, Internet service providers or other media. in preparation forTegnas annual shareholders meeting scheduled for May 7. In particular, Adjusted EBITDA is not intended to be a measure of cash flow available for managements discretionary expenditures, as this measure does not consider certain cash requirements, such as working capital needs, capital expenditures, contractual commitments, interest payments, tax payments and other debt service requirements. They state TEGNAs purpose is to serve the greater good of our communities. 212-355-4449, TEGNA Best Media Companies to Work For in Virginia, Best Media Companies to Work For in McLean, VA. Non-GAAP operating expenses less programming and Premion costs were down one percent compared to 2021. Following the close of the transaction, Deb McDermott will become CEO and Mr. Kim will serve as Chairman of a new Board. 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. [18] The range of programming on the network would be engineering and science, human achievements, military history and natural history. The data presented on this page does not represent the view of TEGNA and its employees or that of Zippia. 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.
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