The company defines Adjusted EBITDA as net income attributable to TEGNA before (1) net income attributable to redeemable noncontrolling interest, (2) income taxes, (3) interest expense, (4) equity loss in unconsolidated investments, net, (5) other non-operating items, net, (6) M&A-related costs, (7) advisory fees related to activism defense, (8) spectrum repacking reimbursements and other, net, (9) depreciation and (10) amortization. National and International news is provided by the Associated Press as well as other TEGNA TV stations. Employees at the parent company, TEGNA, earn $56,684. 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. 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. 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. TEGNA Inc (TGNA) - Strategy, SWOT a (M. Huitsing 01/12/2020) Updated (03/21/2022), Last Updated on March 21, 2022 by Media Bias Fact Check, Left vs. 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. 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. Tegna owns or operates 66 television stations in 54 markets, and holds properties in digital media. That is where the problem is and will remain unless exposed. Using a database of 30 million profiles, Zippia estimates demographics and statistics for TEGNA. We are a drug free, EEO employer committed to a diverse workforce. Following the close of the transaction, TEGNA stations in Austin (KVUE), Dallas (WFAA and KMPX) and Houston (KHOU and KTBU) are expected to be acquired by Cox Media Group (CMG) from Standard General. 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. Sunday shows preview: US-China relations remain on shaky ground, 2024 election looms. 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. After evaluating this opportunity against TEGNAs standalone prospects and other strategic alternatives, our Board concluded that this transaction maximizes value for TEGNA shareholders. Compared to 2020, AMS revenue was up 16 percent driven by increases in television and Premion advertising. 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. enrollment in college or vocational school, political affiliation, veteran . Numerical coincidence prompted $754M Powerball winner to buy ticket: It was a sign, Texas GOP votes to censure Rep. Tony Gonzales over support on gun, same-sex legislation, Three things to know about what critics are calling Mississippis Jim Crow bill, Want to save the climate? . Standard General Tegna shareholders approved an initial public offering of Cars.com as a publicly traded spin-off in May 2017. Does the media have a liberal bias? Andy Brimmer/Jamie Moser 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.". 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. 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. Cooper Media's president and general manager Brian Weiss transferred to Tegna and continue managing the two networks. [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]. [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. Local information is presented with minimally loaded wording such as this: Wrong-way driver stopped on I-10 Sunday morning. Country: USA Non-GAAP expenses less Premion costs increased two percent from 2021, driven primarily by programming expenses. Weighted average number of common shares outstanding: The company uses non-GAAP financial performance measures to supplement the financial information presented on a GAAP basis. It owns: Stations are arranged in alphabetical order by state and city of license. 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. 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". 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. This page was last edited on 4 March 2023, at 07:53. . TEGNA also owns leading multicast networks True Crime Network, Twist and Quest. Note that indicators of conservative interest can change suddenly. In June 2015, Gannett spun off its broadcasting division. 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. 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. [13] Upon the completion of the spin-off, Dave Lougee, president of Tegna Media, was named president and CEO of Tegna and joined the company's board of directors. 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. TEGNA TGNA and Comcast's CMCSA NBC recently announced the extension of their partnership by signing a multi-year deal to renew station affiliation agreements for 20 TEGNA markets in the United . Subsidiaries to TEGNA include Central Newspapers, Florida Today, and THV11. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. 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. Bias Rating: LEAST BIASED 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! The TEGNA Foundation supports nonprofit organizations in communities served by TEGNA Inc. You can obtain free copies of these documents from the Company using the contact information above. The transaction was unanimously approved by the TEGNA Board. GAAP earnings per diluted share were $2.81 and non-GAAP earnings per diluted share were $2.83. With 49 television stations and two radio stations in 41 markets, TEGNA delivers relevant content and information to consumers across platforms. family responsibilities, disability, enrollment in college or vocational school, political . A large media company with 6,883 employees and an annual revenue of $3.0B, TEGNA is headquartered in Virginia. We are a drug free, EEO employer committed to a diverse workforce. [29] The sale was approved by the FCC on July 29, 2019,[30] and was completed on August 8. 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. The broadcasting company retained KPNX, which took the name TEGNA. Ad-Free Sign up One of the most prominent Tegna Digital properties. Have you worked at TEGNA? TYSONS, Va., February 27, 2023--(BUSINESS WIRE)--TEGNA Inc. (NYSE: TGNA) today announced financial results for the fourth quarter and full-year ended December 31, 2022. Help us make this company more transparent. We are deeply gratified that TEGNAs new owners value and embrace our purpose to serve the greater good of our communities. TEGNA Inc. (NYSE: TGNA) today announced financial results for the second quarter ended June 30, 2022. . 14% of TEGNA employees are Black or African American. Joele Frank, Wilkinson Brimmer Katcher Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. The Latest Fact Checks curated by Media Bias Fact Check 03/04/2023, MBFCs Weekly Media Literacy Quiz Covering the Week of Feb 25 Mar 3rd, The Latest Fact Checks curated by Media Bias Fact Check 03/03/2023, Daily Source Bias Check: The Event Chronicle. Despite its diversity in other areas, TEGNA employees are noticeably lacking in political diversity. 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. 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 average employee at TEGNA makes $56,684 per year. 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. The "new" Gannett inherited old Gannett's longtime ticker symbol, GCI.