Despite its diversity in other areas, TEGNA employees are noticeably lacking in political diversity. 15% of TEGNA employees are Hispanic or Latino. Pay is not commensurate with experience and talent. Cautionary Statement Regarding Forward-Looking Statements. Under the terms of the definitive merger agreement, in addition to receiving $24.00 per share, TEGNA shareholders will receive additional cash consideration in the form of a ticking fee of $0.00167 per share per day (or $0.05 per month) if the closing occurs between the 9- and 12-month anniversary of signing, increasing to $0.0025 per share per day (or $0.075 per month) if the closing occurs between the 12- and 13-month anniversary of signing, $0.00333 per share per day (or $0.10 per month) if the closing occurs between the 13- and 14-month anniversary of signing, and $0.00417 per share per day (or $0.125 per month) if the closing occurs between the 14- and 15-month anniversary of signing. Full-Time. Anne Bentley Other Nexstar/Tribune stations going to Tegna are WZDX/Huntsville, KFSM-TV/Fort SmithFayetteville, WTIC-TVWCCT-TV/Hartford, and WATN-TVWLMT/Memphis. 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. 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. AMS revenue was $1.4 billion, down five percent year-over-year due to displacement driven by strong political revenue and continued macroeconomic headwinds. TEGNA Inc. is a media company innovating in the digital age. Management and the companys Board of Directors use non-GAAP financial measures for purposes of evaluating company performance. Finally, the website features fact checks from TEGNAs fact check service VERIFY Fact check. Dave Lougee is President/CEO at Tegna Inc. See Dave Lougee's compensation, career history, education, & memberships. GAAP and non-GAAP operating income totaled $328 million and $331 million, respectively. We are a drug free, EEO employer committed to a diverse workforce. We have clear processes for promptly investigating and addressing inappropriate workplace conduct at all levels of the organization. The sale was approved by Standard General and Apollo Global Management on May 17, 2022. Read our profile on the United States government and media. 12news.com is the website for KPNX that covers news, sports, and weather. Senior Vice President, Financial Planning & Analysis TEGNA also owns leading multicast networks True Crime Network, Twist and Quest. 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. In 2015, Gannett spun off Tegna as a separate public company. These sources have minimal bias and use very few loaded words (wording that attempts to influence an audience by appeals to emotion or stereotypes). 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. The company discusses in this release non-GAAP financial performance measures that exclude from its reported GAAP results the impact of "special items" consisting of spectrum repacking reimbursements and other, net, M&A-related costs, advisory fees related to activism defense, certain non-operating items such as expense related to the early extinguishment of debt, a gain on an available for sale investment, and a valuation gain from an investment and an impairment charge recorded for another investment. VERIFY has 385,000 followers across its dedicated channels. 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 employees are most likely to be members of the democratic party. Right Bias: How we rate the bias of media sources. 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 . 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. 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. A new Securities and Exchange Commission (SEC) filing concerning Tegna includes accusations of "broad pattern of bias and racially-insensitive behavior" that were shared with the media company. We have made significant progress in recent years, but our record is not perfect, the spokesperson said in an emailed statement. These cable networks were owned by Belo prior to acquisition by Gannett/Tegna: "TEGNA" redirects here. The broadcasting company retained KPNX, which took the name TEGNA. Gannett Company spun-off most of its internet media properties to Tegna. 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 has renewed retransmission consent agreements representing approximately 30 percent of our subscribers since our prior quarterly release on November 9, 2022. [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. by Richard Moody. 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. An obvious source for the justification is recent news. 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. Living as the station's "chief brand officer", evangelizing the brand and championing all brand-related matters inside the organization.. TEGNA also owns leading multicast networks True Crime Network, Twist and Quest. family responsibilities, disability, enrollment in college or vocational school, political . 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. Tegna owns more than 60 local television stations in the U.S. and several other media properties. 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. 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. Best Media Companies to Work For in Virginia, Best Media Companies to Work For in McLean, VA. Posted: March 02, 2023. Buy a coal mine, Marianne Williamson officially launches long-shot bid for 2024, Securities and Exchange Commission (SEC) filing, Steve Bannon blasts Murdochs, Fox News in fiery CPAC speech, Legal experts say Fox News on shaky legal ground in Dominion lawsuit, Youngkin to take part in CNN town hall amid 2024 speculation, Bill Maher: I am afraid of Trump on a very personal level, FBI Dir accuses China of obfuscating Covid investigation, Poll finds Ron DeSantis top choice for 2024 GOP nominee, What Biden might try next if his student loan forgiveness plan is struck down, Trump reigns supreme at a diminished CPAC, Haley to hit Trump on spending record in closed-door Saturday speech. Does Mexico want to be the next Nicaragua? 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. Corporate offers a lot of good benefits and seems to care about employees. 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. [20] The acquisition was completed on February 15, 2018. See all Least Biased Sources. (M. Huitsing 01/12/2020) Updated (03/21/2022), Last Updated on March 21, 2022 by Media Bias Fact Check, Left vs. The local affiliate I work for in Des Moines is very poorly managed. Howard D. Elias, Chairman of the TEGNA Board, said, We are pleased to have reached this agreement with Standard General, which follows a thorough review of acquisition proposals received by the Company. For more information, visitwww.TEGNA.com. 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. Following the close of the transaction, Deb McDermott will become CEO and Mr. Kim will serve as Chairman of a new Board. [36] However, on February 4, 2022, Dish Network finally reached to an agreement with Tegna, resulting with all Tegna owned stations coming back. 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 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. With 63 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network . [48] It still awaits FCC approval. Do Democrats need a past superstar to hold the White House in 2024? Will Become Nations Largest Minority-Owned, Woman-Led Broadcast Group. WBNS-TV, Central Ohio's News Leader, seeks a passionate, ambitious Anchor/Reporter to join our team. 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. Being a big, bold thinker/innovator and at times, disruptor, for the station. [17] Tegna would be the charter station group as such would receive a minority stake in the network, which launched in January 2018. 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. [18] The range of programming on the network would be engineering and science, human achievements, military history and natural history. They state. This page was last edited on 4 March 2023, at 07:53. On TikTok, which represents the brands fastest growing audience, VERIFYS followers grew from 4,000 to nearly 140,000 year-over-year. Auto advertising saw sequential improvement throughout the year finishing with strong growth in the fourth quarter. Dave Lougee, President and CEO of TEGNA, said, This transaction is the next step in TEGNAs evolution and recognizes the value of our portfolio of leading broadcast assets and innovative digital brands. We tell stories that matter, are an advocate for those in need and help bring positive change to our communities. Tegnas Board of Directors, management team and station leadership continue to take concerted action to build a more diverse, equitable and inclusive Tegna all of which is publicly detailed, the spokesperson added. TEGNA has great employee retention with staff members usually staying with the company for 5.1 years. Local information is presented with minimally loaded wording such as this: Wrong-way driver stopped on I-10 Sunday morning. Stations are listed alphabetically by state and city of license. KPNX also has a section dedicated to politics covering national politics through the Associated Press and local Arizona politics through 12 News TV. In addition, the company owns seven CW affiliates (including three digital subchannels of KFMB-TV, KYTX, and WMAZ-TV), three Estrella TV affiliates (including two digital subchannels of KENS and KVUE), ten MyNetworkTV affiliates (including five digital subchannels of KFMB-TV, KIDY, KXVA, WQAD-TV, and WZDX), three independent stations (including two digital subchannels of KTVB and its satellite of KTFT-LD), a low-powered MeTV affiliate, and a Quest owned-and-operated station. TEGNA Employee Political Affiliation TEGNA employees are most likely to be members of the Democratic Party. 1998 - 2023 Nexstar Media Inc. | All Rights Reserved. WZDX, the TEGNA-owned FOX affiliate in Huntsville AL, has an opening for an experienced, versatile Head of Technology and Operations. 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. [39] Tegna's shareholders chose to re-elect all 12 current board members. Joele Frank, Wilkinson Brimmer Katcher 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. TEGNA owns and operates ABC affiliates in nine markets across the country . 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. Fair Use Policy On. 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. GAAP earnings per diluted share were $2.81 and non-GAAP earnings per diluted share were $2.83. Record subscription revenue of $1.5 billion was up four percent year-over-year, driven by rate increases and partially offset by subscriber declines. 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. Gracia Martore, president and CEO of Tegna, retired and stepped down from the board. TEGNAs employees deserve tremendous credit for their commitment to serving our viewers with high-quality news and content that informs and supports our local communities. The information is 100% accurate and fairly easy to verify. 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. We are a drug free, EEO employer committed to a diverse workforce. Sard Verbinnen & Co. 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. Also after closing, Premion is expected to operate as a standalone business majority owned by Cox Media Group and Standard General. National and International news is provided by the Associated Press as well as other TEGNA TV stations. [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. Good luck, the letter concluded. The Company undertakes no obligation to update or to revise any forward-looking statements. 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. We look forward to building on the Companys strong foundation and leveraging Debs deep industry experience to drive further growth.. 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. The company creates and delivers television programming and digital content, and information across various platforms. With 63 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top . TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. 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. That is where the problem is and will remain unless exposed. TEGNA achieved record net income of $631 million on a GAAP basis, or $637 million on a non-GAAP basis. 703-873-6747 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. We are a drug free, EEO employer committed to a diverse workforce. The document was filed with the SEC by Standard Generalin preparation forTegnas annual shareholders meeting scheduled for May 7. 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. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. [37] In March 2020, Tegna stated that it had turned down two acquisition offers by Gray Television and Apollo Global Management, stating that "these two parties made their proposals shortly before the recent market dislocation due to the COVID-19 pandemic and both subsequently informed Tegna that they were ceasing discussions."