Non-GAAP expenses less Premion costs increased two percent from the fourth quarter of 2021, driven primarily by programming expenses. 14% of TEGNA employees are Black or African American. [21], On August 20, 2018, Tegna agreed to purchase two stations spun off from the Gray Television-Raycom Media merger, CBS affiliate WTOL-TV in Toledo (the sale likely includes rights to an existing shared services agreement with American Spirit Media-owned Fox affiliate WUPW) and NBC affiliate KWES-TV in Odessa in order to alleviate ownership conflicts involving Gray's ownership of ABC affiliate WTVG in the Toledo market and CBS affiliate KOSA-TV in the Odessa market. They state. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. The 20 markets renewed cover 17 percent of the U.S. audience and nearly 21 . Subsidiaries to TEGNA include Central Newspapers, Florida Today, and THV11. 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. [20] The acquisition was completed on February 15, 2018. We encourage and consider all qualified candidates regardless of race, color, religion, national origin, sex, age, marital status, personal appearance, sexual orientation, gender identity, family responsibilities, disability . 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. TEGNA offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, including Premion, TEGNAs OTT advertising service. Other Nexstar/Tribune stations going to Tegna are WZDX/Huntsville, KFSM-TV/Fort SmithFayetteville, WTIC-TVWCCT-TV/Hartford, and WATN-TVWLMT/Memphis. Using rigorous methodology, the media bias chart evaluates popular media outlets and the way in which they tend to lean: centrist, conservative, or liberal. 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. TEGNA employees are most likely to be members of the democratic party. 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. Because of this, WHEC-TV and WDAN-TV are the only television stations built from the ground-up by Gannett. 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. At all levels, we have been tireless in our efforts to ensure TEGNA effectively serves all of our stakeholders, and I am immensely proud of these efforts. TEGNA Inc. (NYSE:NYSE:TGNA) Q1 2021 Earnings Conference Call May 10, 2021 9:00 AM ETCompany ParticipantsDoug Kuckelman - Head of Investor RelationsDave Lougee - President and CEOVictoria. enrollment in college or vocational school, political affiliation, veteran . 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. It operates approximately 64 television stations in over 51 United States markets and owns four network affiliates in approximately 25 markets among independent station groups, reaching approximately 39 % of all television households nationwide. TEGNA Inc. Reports Fourth Quarter and Full-Year 2021 Results - Yahoo! For the former Swiss municipality, see, This article is about Tegna, formerly Gannett, as a broadcast and digital media company. Note that indicators of conservative interest can change suddenly. 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. is a proud equal opportunity employer. [3][4] It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360 view of the company Key Highlights TEGNA Inc (TEGNA) is a provider of media services. The show, titled T.D. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. Compared to 2020, AMS revenue was up 16 percent driven by increases in television and Premion advertising. 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. Filtered Search, Enter your email address to subscribe to MBFC and receive notifications of new posts by email. TEGNA Inc (TGNA) - Financial and Strategic SWOT Analysis Review 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 . The data presented on this page does not represent the view of TEGNA and its employees or that of Zippia. Debmar-Mercury, however, is not participating in the production run, being replaced by independent company Flow Media Partners. Richard Moody donated TEGNA achieved net income of $219 million on a GAAP basis, or $221 million on a non-GAAP basis. KPNX also has a section dedicated to politics covering national politics through the Associated Press and local Arizona politics through 12 News TV. These cable networks were owned by Belo prior to acquisition by Gannett/Tegna: "TEGNA" redirects here. Corporate offers a lot of good benefits and seems to care about employees. "[40][41][42] In 2021, Standard General once again put forward nominees to Tegna's board of directors, alleging that the company was underperforming and had issues with diversity, equity, and inclusion; the latter came after a Black nominee put forward by Standard General withdrew, citing a previous incident involving CEO Dave Lougee in 2014. 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. . Tegna retained "old" Gannett's stock price history, though it trades under a new ticker symbol, TGNA. Support MBFC Donations KPNX also has a section dedicated to politics covering national politics through the Associated Press and local Arizona politics through 12 News TV. 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. Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. 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 . Factual Reporting: HIGH Employees seem to enjoy working in an otherwise diverse workplace that is dominated by members of the Democratic Party. Exposing corruption and wrongdoing, holding elected officials and those in power accountable, giving a voice to the voiceless and telling empowering stories that impact our lives is at the heart of our purpose to serve the greater good. [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 Inc. (TGNA) Up 3.4% Since Last Earnings Report: Can It Continue? 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. 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. TEGNA also owns leading multicast networks True Crime Network, Twist and Quest. (M. Huitsing 01/12/2020) Updated (03/21/2022), Last Updated on March 21, 2022 by Media Bias Fact Check, Left vs. The largest donation made to a political party by a TEGNA employee was by Richard Moody. 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. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. 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. Email from Mediacom about Tegna stations : Iowa - reddit Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. 15% of TEGNA employees are Hispanic or Latino. The new agreement includes full carriage of the FOX broadcast network . [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. 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. 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. Jakes ended in September 2017 and was replaced with news and entertainment show Daily Blast Live, which premiered on September 11, 2017. They also responded to objections by NewsGuild-CWA describing Standard General as "backed by anonymous investors located in the Cayman Islands", stating that the entirety of its board is represented by U.S. For the trailing two-year period ending December 31, 2022, free cash flow as a percentage of revenue was 21.8 percent. The sale was approved by Standard General and Apollo Global Management on May 17, 2022. 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. Read our profile on the United States government and media. The company creates and delivers television programming and digital content, and information across various platforms. Why the 'Trump factor' means record revenue for Tegna Our estimates are verified against BLS, Census, and current job openings data for accuracy. TEGNA Inc. (NYSE:TGNA) Q3 2020 Earnings Conference Call November 9, 2020 9:00 AM ET. Job Details. Privacy Policy / Your California Privacy Rights. [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. THE HILL 1625 K STREET, NW SUITE 900 WASHINGTON DC 20006 | 202-628-8500 TEL | 202-628-8503 FAX. $2,850 to the Democratic Party. 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. 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. [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. Tegna owns or operates 66 television stations in 54 markets, and holds properties in digital media. The most directly comparable GAAP financial measure to free cash flow is Net income attributable to 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. WZDX, the TEGNA-owned FOX affiliate in Huntsville AL, has an opening for an experienced, versatile Head of Technology and Operations. Im very excited about what the future holds for TEGNA.. 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. [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. An obvious source for the justification is recent news. Total cash at the end of the quarter was $552 million. 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. Further, the website does not publish editorial commentary. Local information is presented with minimally loaded wording such as this: Media Bias Fact Check offers a number of sustaining Ad-Free membership plans to fit your budget! TEGNA 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. Standard General All plans give access to our growing exclusive content! 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. 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. The document was filed with the SEC by Standard Generalin preparation forTegnas annual shareholders meeting scheduled for May 7. Each such statement speaks only as of the day it was made. 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. Since 2020, advertising trends have seen significant broad-based strength across all advertising categories, except auto and insurance in this two-year comparison. 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 by the Standard General affiliate for $24.00 per share in cash. Gannett Company spun-off most of its internet media properties to Tegna. Media Bias Chart (PDF version) Interactive Chart Centrist News ABC News Associated Press BBC News CBS News The average employee at TEGNA makes $56,684 per year. TEGNA Inc (TGNA) - Strategy, SWOT a Total company Adjusted EBITDA2 was a record of $1.1 billion, representing an increase of 19 percent compared to 2021 driven by high-margin political and subscription revenues, as well as ongoing cost management to ensure efficient operations. LibGuides: Media Bias: Which Way Does Your News Lean? TEGNA Inc. is a media company innovating in the digital age. For more information, visit www.TEGNA.com. 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. On June 29, 2015, the Gannett Company split in two, specializing in print media and the other specializing in broadcast and digital media. [56], In January 2018, Tegna announced a partnership with Sony Pictures Television to handle syndication distribution and advertising sales for its original programs.[57].
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