National and International news is provided by the Associated Press as well as other TEGNA TV stations. On February 24, 2023, the FCC issued a hearing designation order with respect to the transaction. Non-GAAP expenses less Premion costs increased two percent from 2021, driven primarily by programming expenses. 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. Best Media Companies to Work For in Virginia, Best Media Companies to Work For in McLean, VA. 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. 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. 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. accusations of broad pattern of bias and racially-insensitive behavior that were shared with the media company by its largest active shareholder. TEGNA has great employee retention with staff members usually staying with the company for 5.1 years. Senior Vice President, Financial Planning & Analysis Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. 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. Sunday shows preview: US-China relations remain on shaky ground, 2024 election looms. They state TEGNAs purpose is to serve the greater good of our communities. In June 2015, Gannett spun off its broadcasting division. Media Type: TV Station TEGNA offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, including Premion, TEGNAs OTT advertising service. [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. MBFC Credibility Rating: HIGH CREDIBILITY. 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. [31], In December 2019, Tegna agreed to sell KFMB-AM-FM to Local Media San Diego for $5 million;[32] the sale was completed on March 17, 2020. This is 2021, yet the roots of racist behavior within Tegna/Gannett are ugly and run deep. Total company revenue was a record $3.3 billion, up ten percent year-over-year, driven by strong growth in political revenue and record subscription revenue despite AMS revenue declines as a result of political displacement and macroeconomic headwinds. 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. In everything we do, we are driven by our strongly held values and our stated purpose to serve the greater good of our communities. 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. WTHR in Indianapolis is looking for a talented and experienced sports anchor and multi-skilled journalist to join the 13Sports team in an extremely competitive sports market. In comparison, some of its highest paying competitors, like. 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. 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. 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. Unsurprisingly, Tom's and Seventh Generation jump to the top of left-leaning companies. 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. 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. Does Mexico want to be the next Nicaragua? The company creates and delivers television programming and digital content, and information across various platforms. 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. 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. 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. We are a drug free, EEO employer committed to a diverse workforce. Bias Rating: LEAST BIASED Mr. Kim is supported by a diverse, highly experienced 17-person team, including seven investment professionals with over 120 years of collective investing experience. 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. Job Details. 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. This position will report directly to the Regional Head of Technology and Operations. TEGNA Inc. is a proud equal opportunity employer. Local information is presented with minimally loaded wording such as this: Wrong-way driver stopped on I-10 Sunday morning. Tegna owns or operates 68 television stations located in 54 markets (including fourteen duopolies); it also owns two radio stations in Columbus, Ohio. [3][4] It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies. Also after closing, Premion is expected to operate as a standalone business majority owned by Cox Media Group and Standard General. Standard General is a minority-controlled and operated organization. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. The document was filed with the SEC by Standard Generalin preparation forTegnas annual shareholders meeting scheduled for May 7. 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. 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. Record subscription revenue of $1.5 billion was up four percent year-over-year, driven by rate increases and partially offset by subscriber declines. Ad-Free Sign up For more information, visit www.TEGNA.com. The document was filed with the SEC by Standard General. 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. [19], On December 18, 2017, Tegna announced it would acquire KFMB-AM-FM-TV in San Diego from Midwest Television, Inc. for $325 million, pending approval from the Federal Communications Commission. On June 29, 2015, the Gannett Company split in two, specializing in print media and the other specializing in broadcast and digital media. 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. For more information, visitwww.TEGNA.com. 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 . We are a drug free, EEO employer committed to a diverse workforce. The data presented on this page does not represent the view of TEGNA and its employees or that of Zippia. Doug Kuckelman - Head of Investor Relations. Political revenue was a record for a non-presidential election year at $341 million, up 21 percent from 2018 on a pro forma basis1. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. [20] The acquisition was completed on February 15, 2018. [50][21] Twenty-two of the company's stations are affiliated with NBC (including one digital subchannel of KBMT and two semi-satellites of KCEN-TV and WCSH), fifteen are affiliated with CBS, thirteen are affiliated with ABC, and six are affiliated with Fox. While these items should not be disregarded in evaluation of our earnings performance, it is useful to exclude such items when analyzing current results and trends compared to other periods as these items can vary significantly from period to period depending on specific underlying transactions or events that may occur. With 63 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top . $2,850 to the Democratic Party. Following the close of the transaction, Deb McDermott will become CEO and Mr. Kim will serve as Chairman of a new Board. Upon completion of the transaction, TEGNA will become a private company and its shares will no longer be traded on the New York Stock Exchange. [18] The range of programming on the network would be engineering and science, human achievements, military history and natural history. Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. We have never been more certain of the importance of our role than we are today. Claiming and updating your company profile on Zippia is free and easy. Revenues increased 6.2% year over . In general, the news is reported factually and with minimal bias. Standard General was founded in 2007 and manages capital for public and private pension funds, endowments, foundations, and high-net-worth individuals. Im very excited about what the future holds for TEGNA.. Employees seem to enjoy working in an otherwise diverse workplace that is dominated by members of the Democratic Party. 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. investorrelations@TEGNA.com. [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. 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. 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. 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). Press Freedom Rating: MOSTLY FREE Living as the station's "chief brand officer", evangelizing the brand and championing all brand-related matters inside the organization.. Does the media have a liberal bias? TEGNA Inc (TGNA) - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. Research Summary. 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. 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. Good luck, the letter concluded. 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. 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. GAAP earnings per diluted share were $2.81 and non-GAAP earnings per diluted share were $2.83. These sources have minimal bias and use very few loaded words (wording that attempts to influence an audience by appeals to emotion or stereotypes). [3] [4] It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies. Right Bias: How we rate the bias of media sources. TEGNA is ranked #13 on the Best Media Companies to Work For in Virginia list. Employees at the parent company, TEGNA, earn $56,684. The factors described above cannot be controlled by the Company. 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. Apple tops ranking of global companies with the most 'green' revenue, UPDATE 2-North Korea says UN should demand end to S.Korea-US military drills, US Treasury puts cost of outbound investment risk program at $10 million, US Jobs Report and Powell Testimony Take Center Stage: Eco Week, Bond Mavens Favor Curve Wagers for Next Encounter With Jobs Data. TEGNA ended the quarter with total debt of $3.4 billion, producing net leverage of 3.39 times, more than a full turn below last year, achieving our previous full year guidance of low 3 times by. TEGNA also delivers innovative and unparalleled solutions for advertisers through TEGNA Marketing Solutions (TMS). See all Least Biased Sources. We are looking for proven leader with strong technical judgment, effective communication skills, possessing an . Media Bias Chart (PDF version) Interactive Chart Centrist News ABC News Associated Press BBC News CBS News Additional Information and Where to Find It. 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. [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. Again, the wording is low biased such as this: What Arizona lawmakers have to say about Wednesdays Iran briefing. Factual Reporting: HIGH [8] The two companies, however, continued to share a headquarters complex. These cable networks were owned by Belo prior to acquisition by Gannett/Tegna: "TEGNA" redirects here. The national average salary for a TEGNA employee in the United States is $56,684 per year. 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. Will Become Nations Largest Minority-Owned, Woman-Led Broadcast Group. Gannett Company spun-off most of its internet media properties to Tegna. Wrong-way driver stopped on I-10 Sunday morning, What Arizona lawmakers have to say about Wednesdays Iran briefing. 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. . Gannett purchased the construction permit for WINR-TV and signed the station on in 1957. We calculated the performance score of companies by measuring multiple factors, including revenue, longevity, and stock market performance. We are a drug free, EEO employer committed to a diverse workforce. [22][23], In March 2019, Tegna announced its formation of VAULT Studios, its first, in-house digital content studio. 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. 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. 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. And as Reagan's son assumed, Apple, Google, and most other major tech companies side with Democrats too. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. [48] It still awaits FCC approval. 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. The closing of the transaction remains subject to the approval of the Federal Communications Commission (the "FCC") and customary closing conditions. In review, 12 News KPNX reports local news primarily through TV news video and accompanying text. 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. 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. Based on our research, similar companies to TEGNA are ION Media Networks, Discovery, and Univision Holdings, Inc. 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. With 49 television stations and two radio stations in 41 markets, TEGNA delivers relevant content and information to consumers across platforms. 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. We look forward to building on the Companys strong foundation and leveraging Debs deep industry experience to drive further growth.. 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. [25][26] The FCC approved the sale on September 16. The average employee at TEGNA makes $56,684 per year. 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,. Moelis & Company and RBC are acting as financial advisor to Standard General and Fried Frank Harris Shriver & Jacobson LLP and Pillsbury Winthrop Shaw Pittman LLP are acting as its legal advisors. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. The staff at TEGNA come from unusually diverse demographic backgrounds. Our award-winning journalists have been recognized with numerous national honors including Edward R. Murrow, Alfred I. du Pont, George Foster Peabody, George Polk, Walter Cronkite and Emmy awards.
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