VERIFY has 385,000 followers across its dedicated channels. Ms. McDermott currently serves as CEO of Standard Media and has more than 20 years of experience leading broadcast groups, including previously serving as COO of Media General and as CEO and President of Young Broadcasting. Unaudited, in thousands of dollars (except per share amounts), Business units - Selling, general and administrative expenses, Corporate - General and administrative expenses, Spectrum repacking reimbursements and other, net, Equity loss in unconsolidated investments, net, Net income attributable to redeemable noncontrolling interest. [3][4] It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies. The company believes these adjustments facilitate company-to-company operating performance comparisons by removing potential differences caused by variations unrelated to operating performance, such as capital structures (interest expense), income taxes, and the age and book appreciation of property and equipment (and related depreciation expense). Sunday shows preview: US-China relations remain on shaky ground, 2024 election looms. Deb McDermott is an experienced and accomplished broadcast executive, and we are confident in TEGNAs future under her leadership., Ms. McDermott commented, I am honored to lead TEGNAs team to create new opportunities and build on its heritage and successes achieved under Daves leadership. (adsbygoogle = window.adsbygoogle || []).push({}); Ad-Free Login 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. [20] The acquisition was completed on February 15, 2018. [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. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. [54], Other shows Tegna Media has on first-run syndication across most of its stations are Sister Circle (also shown on cable network TV One),[55] and reality competition Sing Like A Star. TEGNA has great employee retention with staff members usually staying with the company for 5.1 years. 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 . Standard General was founded in 2007 and manages capital for public and private pension funds, endowments, foundations, and high-net-worth individuals. As community needs differ by region, please check with your local Community Grant contact to learn what needs are being addressed in your area. TEGNAs purpose is to serve the greater good of our communities. Good health benefits and great PTO. [36] However, on February 4, 2022, Dish Network finally reached to an agreement with Tegna, resulting with all Tegna owned stations coming back. Mr. Kim is supported by a diverse, highly experienced 17-person team, including seven investment professionals with over 120 years of collective investing experience. The largest donation made to a political party by a TEGNA employee was by Richard Moody. The sale was approved by Standard General and Apollo Global Management on May 17, 2022. Using a database of 30 million profiles, Zippia estimates demographics and statistics for TEGNA. [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. Stations are listed alphabetically by state and city of license. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Tegna also owns three digital multicast networks (True Crime Network, Quest, and Twist). Several categories grew year-over-year such as entertainment, travel and tourism, services, and home improvement. One of the most prominent Tegna Digital properties. 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's mission statement is "To serve the greater good of our communities. 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. 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. Have you worked at TEGNA? The document was filed with the SEC by Standard General. MBFC Credibility Rating: HIGH CREDIBILITY. Tegna retained "old" Gannett's stock price history, though it trades under a new ticker symbol, TGNA. However, the distorted picture of Tegna and its stations painted by Standard General to advance its ill-conceived proxy fight will not distract from our significant focus on DE&I [diversity, equity and inclusion] as well as our strong financial performance.. The network saw over 800 million minutes of watch time in 2022, a 502 percent increase year-over-year. For Ad-Free Subscriptions go here: https://mediabiasfactcheck.com/membership-account/membership-levels/, Terms and Conditions 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. To serve the greater good of our communities. 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. Full-Time. TEGNA owns and operates ABC affiliates in nine markets across the country . TEGNA has renewed retransmission consent agreements representing approximately 30 percent of our subscribers since our prior quarterly release on November 9, 2022. 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. 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. We have never been more certain of the importance of our role than we are today. enrollment in college or vocational school, political affiliation, veteran . 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. Standard General is a minority-controlled and operated organization. Political revenue was a record for a non-presidential election year at $341 million, up 21 percent from 2018 on a pro forma basis1. 15% of TEGNA employees are Hispanic or Latino. The staff at TEGNA come from unusually diverse demographic backgrounds. 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. TEGNA also owns leading multicast networks True Crime Network, Twist and Quest. Record subscription revenue of $1.5 billion was up four percent year-over-year, driven by rate increases and partially offset by subscriber declines. (M. Huitsing 01/12/2020) Updated (03/21/2022), Last Updated on March 21, 2022 by Media Bias Fact Check, Left vs. 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. 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. 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. This is 2021, yet the roots of racist behavior within Tegna/Gannett are ugly and run deep. Founded in 1953, 12 News KPNX is an NBC affiliate based in Phoenix, Arizona. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. 12news.com is the website for KPNX that covers news, sports, and weather. JAKES" SET TO PREMIERE MONDAY, SEPTEMBER 12, 2016 TEGNA", "Exclusive: Tegna's 'BOLD' to Be Renamed 'Daily Blast Live', Tegna, TV One to Launch Daily Talk Show Sister Circle, TEGNA Announces Sing Like a Star, New Singing Competition Premiering September 16, "NATPE Roundup: Fox TV Stations Renew 'Page Six TV,' Sony Pictures TV Teams With Tegna", "How This New Platform Plans to Make Buying Ads on Streaming Services Easier", http://investors.tegna.com/news-releases/news-release-details/tegna-acquires-leading-local-sports-podcast-network-locked, https://awfulannouncing.com/podcasts/tegna-acquires-locked-on-podcast-network.html, "Meredith Buying Three Stations From Gannett", "Meredith Corp. closes on $177million purchase of KMOV", https://en.wikipedia.org/w/index.php?title=Tegna_Inc.&oldid=1142769168, Defunct, went silent in 1954, frequency now used by. 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. Station assigned to licensee Pacific and Southern Company, Inc. KVUE was previously owned by Gannett from 1986 to 1999, when it was traded to Belo in exchange for KXTV. Living as the station's "chief brand officer", evangelizing the brand and championing all brand-related matters inside the organization.. 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. The station needs an outstanding talent to bring viewers to the biggest sporting events in Indiana including extensive coverage of the . We are a drug free, EEO employer committed to a diverse workforce. Jakes ended in September 2017 and was replaced with news and entertainment show Daily Blast Live, which premiered on September 11, 2017. [16], Tegna and Cooper Media, parent corporation of the Justice Network, announced on November 7, 2017, a new multicast network, Quest. TEGNA also owns leading multicast networks True Crime Network and Quest. 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. 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 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. It has an unusually high proportion of employees who are members of the Democratic Party, at 87.0%. The show, titled T.D. 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. 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 . [29] The sale was approved by the FCC on July 29, 2019,[30] and was completed on August 8. Overall, we rate 12 News KPNX Least Biased based on neutral wording and minimal editorial content. The average employee at TEGNA makes $56,684 per year. Here's one research-based answer to the question of liberal bias: The documentary The Myth of the Liberal Media: The Propaganda Model of News uses empirical evidence to look at ownership of the mainstream news media, filters that affect what news gets published, and examples of actual news coverage in order to show that conservative political and corporate . 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. About TEGNA. Employees at the parent company, TEGNA, earn $56,684. [7] The spin-out was structured so that "old" Gannett changed its name to Tegna, Inc., then spun off its newspaper holdings into a "new" Gannett. [18] The range of programming on the network would be engineering and science, human achievements, military history and natural history. Standard General [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. 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. Sard Verbinnen & Co. We have clear processes for promptly investigating and addressing inappropriate workplace conduct at all levels of the organization. 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. [45], On February 22, 2022, Tegna announced that it had agreed to be taken private by a group led by Standard General and Apollo Global Management for $24 per-share, valuing the company at $5.4 billion. 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. [53], T.D. 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. 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. GAAP earnings per diluted share were $2.81 and non-GAAP earnings per diluted share were $2.83. 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. Finally, the website features fact checks from TEGNAs fact check service VERIFY Fact check. 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. Management and the companys Board of Directors use non-GAAP financial measures for purposes of evaluating company performance. Help us make this company more transparent. The studio's first content would be true crime podcasts, drawing on its station news content. 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. 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. [39] Tegna's shareholders chose to re-elect all 12 current board members. 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). A large media company with 6,883 employees and an annual revenue of $3.0B, TEGNA is headquartered in Virginia. Also, our non-GAAP measures may not be comparable to similarly titled measures of other companies. TEGNA Inc. is a proud equal opportunity employer. RECENT CONTENT, PROGRAMMING AND ESG UPDATES. 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. 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. In review, 12 News KPNX reports local news primarily through TV news video and accompanying text. 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! 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. family responsibilities, disability, enrollment in college or vocational school, political . TEGNA offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, includingPremion, TEGNAs OTT advertising service. The 11 markets renewed cover . TEGNA Inc. (NYSE:TGNA) Q3 2020 Earnings Conference Call November 9, 2020 9:00 AM ET. Support MBFC Donations KPNX is an NBC affiliate based in Phoenix, Arizona. Factual Reporting: HIGH That is where the problem is and will remain unless exposed. Media Type: TV Station In 2015, Gannett spun off Tegna as a separate public company. 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. 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. Claiming and updating your company profile on Zippia is free and easy. The document was filed with the SEC by Standard Generalin preparation forTegnas annual shareholders meeting scheduled for May 7. Employees seem to enjoy working in an otherwise diverse workplace that is dominated by members of the Democratic Party. 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. Locked On Scores a Record Year Locked On Podcast Network, which provides in-depth local coverage of every NBA, NFL, MLB and NHL team plus major college sports teams, grew its total audience by 89 percent in 2022 and delivered more than 217 million podcast listens and views across platforms. [38], Kim began to engage in a proxy fight, with Standard General proposing four nominations to Tegna's board of directors at its next shareholders' meeting in April. [48] It still awaits FCC approval. The most common ethnicity at TEGNA is White (60%). 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. In terms of audience reach, Tegna is the largest group owner of NBC-affiliated stations, ahead of Hearst Television and Sinclair Broadcast Group, and the fourth-largest group owner of ABC affiliates, behind Hearst, the E. W. Scripps Company, and Sinclair. 1998 - 2023 Nexstar Media Inc. | All Rights Reserved. Research Summary. In 2015, Tegna Media test-ran a limited-run informative talk show hosted by Dallas-based bishop T. D. Jakes on its owned stations in Dallas, Atlanta, Minneapolis and Cleveland. TEGNA-SVC@SARDVERB.com, For investor inquiries, contact: We have made significant progress in recent years, but our record is not perfect, the spokesperson said in an emailed statement. The company is 49.5% female and 39.7% ethnic minorities. 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. 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. Anne Bentley Because of this, WHEC-TV and WDAN-TV are the only television stations built from the ground-up by Gannett. 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. As a result of the pending transaction and as previously announced, TEGNA expects to continue to pay its regular quarterly dividend through the closing of the transaction, but has suspended share repurchases under our previously announced share repurchase program. [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." TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. They state TEGNAs purpose is to serve 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. See all Least Biased Sources. 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. Revenues increased 6.2% year over . by Richard Moody. Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. TEGNA achieved net income of $219 million on a GAAP basis, or $221 million on a non-GAAP basis. 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 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. [3] [4] It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies. Hopefully, your team can look into this and get Tegna cleaned up from the top. Joele Frank, Wilkinson Brimmer Katcher [11][12] Shortly after, Tegna completed the spin-off of Cars.com, which now trades under a new ticker symbol, CARS. Since 2020, advertising trends have seen significant broad-based strength across all advertising categories, except auto and insurance in this two-year comparison. 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". The wages at ION Media Networks average higher than the other similar companies, where the median salary is $72,169 per year. [22][23], In March 2019, Tegna announced its formation of VAULT Studios, its first, in-house digital content studio. A syndicate of banks led by RBC Capital Markets will provide debt financing. 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. 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. 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. The transaction has an equity value of approximately $5.4 billion and an enterprise value of approximately $8.6 billion, including the assumption of debt. 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".
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