[35] On October 18, Dish Network filed a complaint with the Federal Communications Commission against Tegna. Vice President, Corporate Communications 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. 703-873-6747 [48] It still awaits FCC approval. 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. 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. [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. 14% of TEGNA employees are Black or African American. TEGNA achieved record net income of $631 million on a GAAP basis, or $637 million on a non-GAAP basis. The national average salary for a TEGNA employee in the United States is $56,684 per year. None of the information on this page has been provided or approved by TEGNA. 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. 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. 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. 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. Thanks to the teams stellar execution of the Companys value-creation strategy, TEGNA has positioned itself as a leading broadcast television group serving the greater good of the communities in which we operate and as a private company will have an enhanced ability to keep evolving its local news, programming, and marketing solutions to serve its communities in a rapidly changing media landscape., Soo Kim, Founding Partner of Standard General, commented, As long-term investors in the television broadcasting industry, we have a deep admiration for TEGNA and the stations it operates and, in particular, for TEGNAs talented employees and their commitment to serving their communities. As part of the separation, the company announced that the broadcasting and digital company would be named Tegnaa partial anagram of "Gannett". TEGNA has great employee retention with staff members usually staying with the company for 5.1 years. 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. 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. 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 new agreement includes full carriage of the FOX broadcast network . On June 29, 2015, the Gannett Company split in two, specializing in print media and the other specializing in broadcast and digital media. 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. Gannett purchased the construction permit for WINR-TV and signed the station on in 1957. TEGNA competitors include Kshb / Kmci / The Ew Scripps Company, Sinclair Broadcast Group, ION Media Networks, KEYE-TV, Florida Today, Central Newspapers, Discovery, WTOL 11, WWE, Weigel Broadcasting Co., WTKR News 3, Nexstar Media Group, Ksdk-tv Newschannel 5, WBRZ, Univision Holdings, Inc., Calkins Media Incorporated, WPTV, WATE 6 On Your Side, WBNG TV 12, KSBW. The list includes stations owned by Tegna, Inc. during its former existence as the Gannett Company subsidiary Gannett Broadcasting, Inc. 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. These are the most credible media sources. Job Details. TEGNA Inc. is a proud equal opportunity employer. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Wrong-way driver stopped on I-10 Sunday morning, What Arizona lawmakers have to say about Wednesdays Iran briefing. The most directly comparable GAAP financial measure to Adjusted EBITDA is Net income attributable to TEGNA. Overall, we rate 12 News KPNX Least Biased based on neutral wording and minimal editorial content. 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. The company creates and delivers television programming and digital content, and information across various platforms. 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. Cooper Media's president and general manager Brian Weiss transferred to Tegna and continue managing the two networks. Unsurprisingly, Tom's and Seventh Generation jump to the top of left-leaning companies. 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. We calculated the diversity score of companies by measuring multiple factors, including the ethnic background, gender identity, and language skills of their workforce. Tegna owns or operates 68 television stations located in 54 markets (including fourteen duopolies); it also owns two radio stations in Columbus, Ohio. We calculated the performance score of companies by measuring multiple factors, including revenue, longevity, and stock market performance. Our estimates are verified against BLS, Census, and current job openings data for accuracy. [20] The acquisition was completed on February 15, 2018. For more information, visitwww.TEGNA.com. 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. 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 One of the most dominant and far-reaching media companies in U.S. history just got even bigger, and there's a chance it could affect the way huge swaths of people get news but there's a good. That is where the problem is and will remain unless exposed. On average, employees at TEGNA stay with the company for 5.1 years. Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. The document was filed with the SEC by Standard General. 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 . TEGNA (TGNA) and NBC extend partnership with multi-year deal to renew station affiliation agreements for 20 TEGNA markets in the United States. The 20 markets renewed cover 17 percent of the U.S. audience and nearly 21 . Factual Reporting: HIGH Each such statement speaks only as of the day it was made. 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. In regards to other rumored offers from Byron Allen and religious broadcaster TBN (the latter in partnership with Jahm Najafi), the company stated that "the other two parties have not signed confidentiality agreements to enable due diligence and have not delivered any information on financing sources". [16], Tegna and Cooper Media, parent corporation of the Justice Network, announced on November 7, 2017, a new multicast network, Quest. 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. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. 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. THE COMPANY URGES YOU TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE PROPOSED TRANSACTION AND RELATED MATTERS. On. GAAP and non-GAAP operating expenses of $2.3 billion were up five percent and four percent year-over-year, respectively, with the increases predominantly driven by investments in Premions growth and programming costs. . Note that indicators of conservative interest can change suddenly. Privacy Policy / Your California Privacy Rights. 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. Also after closing, Premion is expected to operate as a standalone business majority owned by Cox Media Group and Standard General. Free cash flow3 was $297 million for the quarter. (Press Release). Non-GAAP expenses less Premion costs increased two percent from the fourth quarter of 2021, driven primarily by programming expenses. 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 . 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. 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. 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. 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. 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. Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. Tegna also owns three digital multicast networks (True Crime Network, Quest, and Twist). For more information, visit www.TEGNA.com. To serve the greater good of our communities. Best Media Companies to Work For in Virginia, Best Media Companies to Work For in McLean, VA. TEGNA Parties Democratic Party 87.5 % - Republican Party 12.5 % - Employee Political Donations Total company Adjusted EBITDA2 was $361 million, representing an increase of 47 percent compared to the fourth quarter of 2021. Cautionary Statement Regarding Forward-Looking Statements. The studio's first content would be true crime podcasts, drawing on its station news content. Also, our non-GAAP measures may not be comparable to similarly titled measures of other companies. 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. After extensive research and analysis, Zippia's data science team found that: 50% of TEGNA employees are women, while 50% are men. [18] The range of programming on the network would be engineering and science, human achievements, military history and natural history. 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. 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 also owns leading multicast networks True Crime Network, Twist and Quest. "[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. Tegna's digital advertising subsidiary Premion will be held as a standalone business between Standard and CMG. 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. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. The largest donation made to a political party by a TEGNA employee was by Richard Moody. Joele Frank, Wilkinson Brimmer Katcher Jakes, was co-produced by Debmar-Mercury, Tegna Media, 44 Blue Productions, Jakes' own production company, TDJ Enterprises and EnLight Productions and lasted from August 17, 2016, to September 8, 2017. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Political revenue was a record for a non-presidential election year at $341 million, up 21 percent from 2018 on a pro forma basis1. 3 min read TEGNA TGNA and Comcast 's CMCSA NBC recently announced the extension. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. Doug Kuckelman - Head of Investor Relations. GAAP and non-GAAP operating income totaled $328 million and $331 million, respectively. The station needs an outstanding talent to bring viewers to the biggest sporting events in Indiana including extensive coverage of the . Research Summary. The most directly comparable GAAP financial measure to free cash flow is Net income attributable to TEGNA. The "new" Gannett inherited old Gannett's longtime ticker symbol, GCI. The most common ethnicity at TEGNA is White (60%). We are a drug free, EEO employer committed to a diverse workforce. Have you worked at TEGNA? Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. Advertising and sponsored content generate revenue. TEGNA Employee Political Affiliation TEGNA employees are most likely to be members of the Democratic Party. TEGNA also owns leading multicast networks True Crime Network and Quest. Involved in the Gannett Company's 1997 station trade deal with. 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.