Richard Moody donated (AMS) revenues, which include local and national non-political television advertising, digital marketing services (including Premion), and advertising on stations' websites, tablet and mobile products and OTT apps; 3) political . 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. The sale was approved by Standard General and Apollo Global Management on May 17, 2022. 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. 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. TEGNA offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, includingPremion, TEGNAs OTT advertising service. Tegna retained "old" Gannett's stock price history, though it trades under a new ticker symbol, TGNA. Each such statement speaks only as of the day it was made. Interest expense decreased to $44 million compared to $46 million in the fourth quarter of 2021 due to lower average debt of $3.1 billion, resulting in net leverage of 2.44x. TEGNA Inc (TGNA) - Strategy, SWOT a 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. Traffic/Popularity: Medium Traffic Political revenue was $179 million, up nine percent from 2018, the last non-presidential election year, on a pro forma basis1. 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. 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. [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. TEGNA Inc. Reports Fourth Quarter and Full-Year 2022 Results What you need to know from Costco's earnings call TEGNA Inc. Reports Fourth Quarter and Full-Year 2022 Results February 27,. 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. [11][12] Shortly after, Tegna completed the spin-off of Cars.com, which now trades under a new ticker symbol, CARS. 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. 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. In October 2022, Chair of the House Energy and Commerce Committee Frank Pallone and Speaker of the House Nancy Pelosi issued a letter to the FCC expressing concerns for the transaction, arguing that it "would violate the FCC's mandate by restricting access to local news coverage, cutting jobs at local television stations, and raising prices on consumers." 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. Help other job seekers by rating TEGNA. Senior Vice President, Financial Planning & Analysis 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. The document was filed with the SEC by Standard General. TEGNA employees are most likely to be members of the democratic party. We tell stories that matter, are an advocate for those in need and help bring positive change to our communities. Also, our non-GAAP measures may not be comparable to similarly titled measures of other companies. 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. We are a drug free, EEO employer committed to a diverse workforce. You can click/tap on the image to go to the full version of the chart. Following the close of the transaction, Deb McDermott will become CEO and Mr. Kim will serve as Chairman of a new Board. [18] The range of programming on the network would be engineering and science, human achievements, military history and natural history. On June 29, 2015, the Gannett Company split in two, specializing in print media and the other specializing in broadcast and digital media. [16], Tegna and Cooper Media, parent corporation of the Justice Network, announced on November 7, 2017, a new multicast network, Quest. TEGNA's mission statement is "To serve the greater good of our communities. All waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, applicable to the Merger and related transactions have expired. Employees at the parent company, TEGNA, earn $56,684. [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. 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. An obvious source for the justification is recent news. [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. TEGNA Parties Democratic Party 87.5 % - Republican Party 12.5 % - Employee Political Donations Additional Information and Where to Find It. GAAP and non-GAAP operating income totaled $328 million and $331 million, respectively. This page was last edited on 4 March 2023, at 07:53. Further, the website does not publish editorial commentary. 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. Dear Mediacom Customer, As you may be aware, Tegna has been blocking Mediacom customers from watching the local broadcast stations it owns since December 31st. The studio's first content would be true crime podcasts, drawing on its station news content. Factual Reporting: HIGH Its television stations has a digital presence on mobile, online, and social platforms. Total company revenue was $917 million in the fourth quarter, up 18 percent year-over-year, driven by strong growth in political revenue despite advertising and marketing services ("AMS") revenue declines resulting from political displacement and macroeconomic headwinds. We calculated the diversity score of companies by measuring multiple factors, including the ethnic background, gender identity, and language skills of their workforce. Management and the companys Board of Directors use non-GAAP financial measures for purposes of evaluating company performance. Therefore, while we may incur or recognize these types of expenses and gains in the future, the company believes that removing these items for purposes of calculating the non-GAAP financial measures provides investors with a more focused presentation of our ongoing operating performance. 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. The company believes that such expenses and gains are not indicative of normal, ongoing operations. Like Adjusted EBITDA, free cash flow is not intended to be a measure of cash flow available for managements discretionary use. 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. [29] The sale was approved by the FCC on July 29, 2019,[30] and was completed on August 8. 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. They specifically cited statements by Standard General regarding plans for a Washington, D.C. bureau to produce content for local newscasts, and arguing that Tegna's stations had "too many employees". Automotive advertising revenue rebounded in the quarter with strong year-over-year growth. Affiliates of AGM, as well as Cox Media Group (which is principally owned by AGM, with Cox Enterprises as a minority shareholder) and other investors, will hold non-voting shares in the company. 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. Adjusted EBITDA is not intended to purport to be an alternate to net income as a measure of operating performance or to cash flows from operating activities as a measure of liquidity. 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. In a statement, she explained that the split plans were "significant next steps in our ongoing initiatives to increase shareholder value by building scale, increasing cash flow, sharpening management focus, and strengthening all of our businesses to compete effectively in today's increasingly digital landscape." 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. KPNX also has a section dedicated to politics covering national politics through the Associated Press and local Arizona politics through 12 News TV. TEGNA achieved record net income of $631 million on a GAAP basis, or $637 million on a non-GAAP basis. 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. Fourth quarter Adjusted EBITDA was down 16 percent compared to the fourth quarter of 2020 reflecting reduced political revenue from the presidential election and the two Georgia Senate runoffs, partially offset by growth in subscription revenue. See all Least Biased Sources. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. TEGNA Employees Receive Industry Honors TEGNA employees received industry honors, including Boyd Huppert, reporter at KARE and TEGNAs chief storytelling coach, who is receiving a Lifetime Achievement Award from the Radio Television Digital News Foundation. In connection with the proposed transaction, the Company will file relevant materials with the U.S. Securities and Exchange Commission (the SEC), including a proxy statement on Schedule 14A. Tysons, Va. & Los Angeles, CA - October 28, 2019 TEGNA Inc. (NYSE: TGNA) and Fox Corporation (Nasdaq: FOXA, FOX) ("FOX") today announced a comprehensive, multi-year deal that renews station affiliation agreements for six TEGNA markets, including three stations acquired last month from Nexstar Media Group.. 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. TEGNA is currently evaluating its options. [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. [22][23], In March 2019, Tegna announced its formation of VAULT Studios, its first, in-house digital content studio. Total cash at the end of the quarter was $552 million. [8] The two companies, however, continued to share a headquarters complex. The largest donation made to a political party by a TEGNA employee was by Richard Moody. For the trailing two-year period ending December 31, 2022, free cash flow as a percentage of revenue was 21.8 percent. 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. 703-873-6747 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. Standard General was founded in 2007 and manages capital for public and private pension funds, endowments, foundations, and high-net-worth individuals. Cooper Media's president and general manager Brian Weiss transferred to Tegna and continue managing the two networks. Additionally, the company announced that it would buy out the remainder of Classified Ventures (a joint venture between Tegna and several other media companies) for $1.8billion, giving it full ownership of properties such as Cars.com.[5][6]. Compared to 2020, total company revenue was up 12 percent driven by record subscription revenue and growth in AMS revenue fueled by Premion, partially offset by reduced political revenue. After extensive research and analysis, Zippia's data science team found that: 50% of TEGNA employees are women, while 50% are men. 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. (Press Release). This is 2021, yet the roots of racist behavior within Tegna/Gannett are ugly and run deep. The factors described above cannot be controlled by the Company. 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. NEW YORK and TYSONS, Va., June 6, 2019 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) and TEGNA Inc. (NYSE: TGNA) today announced a comprehensive, multi-year deal that renews station affiliation agreements for 11 TEGNA markets nationwide, including two top 10 markets - Washington, D.C. and Houston, Texas. Local information is presented with minimally loaded wording such as this: Wrong-way driver stopped on I-10 Sunday morning. They state TEGNAs purpose is to serve the greater good of our communities. 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. Again, the wording is low biased such as this: What Arizona lawmakers have to say about Wednesdays Iran briefing. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. Does Mexico want to be the next Nicaragua? On February 24, 2023, the FCC issued a hearing designation order with respect to the transaction. 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 . In February, Tegna entered into a definitive agreement to be acquired by an affiliate of Standard General for $24 per share in cash and become a private company. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. Unsurprisingly, Tom's and Seventh Generation jump to the top of left-leaning companies. 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. Best Media Companies to Work For in Virginia, Best Media Companies to Work For in McLean, VA. VERIFY Extends Reach in 2022 Unique visitors to VERIFYThis.com, TEGNAs national fact-checking brand dedicated to combating misinformation, increased sequentially each quarter in 2022, attracting more than 12 million visitors overall. by Richard Moody. In these roles, she has served as a key member of the leadership teams responsible for the successful acquisition, integration, and operation of more than 90 stations. [24], On March 20, 2019, Tegna entered an agreement with Nexstar Media Group to acquire eleven stations for $740 million in order to reduce Nexstar's national ownership reach under the federally imposed 39% cap and alleviate ownership conflicts with existing Nexstar properties once it completes a merger with Tribune Media.
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