Our purpose is to serve the greater good of our communities through empowering stories, impactful investigations and innovative marketing services. The Company is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this press release by wire service, Internet service providers or other media. TEGNA also owns leading multicast networks True Crime Network, Twist and Quest. 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. 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. THE HILL 1625 K STREET, NW SUITE 900 WASHINGTON DC 20006 | 202-628-8500 TEL | 202-628-8503 FAX. Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. 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. 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.. Tegna owns or operates 66 television stations in 54 markets, and holds properties in digital media. Vice President, Corporate Communications 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. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. Dave Lougee - President and Chief Executive . 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. Media Bias Chart (PDF version) Interactive Chart Centrist News ABC News Associated Press BBC News CBS News 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. 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. We are looking for proven leader with strong technical judgment, effective communication skills, possessing an . 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. The wages at ION Media Networks average higher than the other similar companies, where the median salary is $72,169 per year. 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. 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. 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. Senior Vice President, Financial Planning & Analysis Pay is not commensurate with experience and talent. Funding. Standard General accusations of broad pattern of bias and racially-insensitive behavior that were shared with the media company by its largest active shareholder. The average employee at TEGNA makes $56,684 per year. Our estimates are verified against BLS, Census, and current job openings data for accuracy. Political revenue was a second quarter record of $51 million up 53 percent from 2018, the . We calculated the diversity score of companies by measuring multiple factors, including the ethnic background, gender identity, and language skills of their workforce. The "new" Gannett inherited old Gannett's longtime ticker symbol, GCI. One of the most prominent Tegna Digital properties. 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, 2020 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021, and the following: (1) the timing, receipt and terms and conditions of any required governmental or regulatory approvals of the proposed transaction and the related transactions involving the parties 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 or the approval of the Companys stockholders), and the related transactions involving the parties, 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 making 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, (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, (10) information technology system failures, data security breaches, data privacy compliance, network disruptions, and cybersecurity, malware or ransomware attacks, and (11) changes resulting from the COVID-19 pandemic, which could exacerbate any of the risks described above. The TEGNA Foundation supports nonprofit organizations in communities served by TEGNA Inc. KPNX is an NBC affiliate based in Phoenix, Arizona. Compared to 2020, fourth quarter AMS revenue was up slightly driven by strong growth in most categories including entertainment, services, and travel and tourism, partially offset by macroeconomic headwinds impacting, auto, insurance, and retail in this two-year comparison. [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. All plans give access to our growing exclusive content! . 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. Finally, the website features fact checks from TEGNAs fact check service VERIFY Fact check. 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. [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. 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. 15% of TEGNA employees are Hispanic or Latino. in preparation forTegnas annual shareholders meeting scheduled for May 7. After evaluating this opportunity against TEGNAs standalone prospects and other strategic alternatives, our Board concluded that this transaction maximizes value for TEGNA shareholders. 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 Inc. is a proud equal opportunity employer. Employees seem to enjoy working in an otherwise diverse workplace that is dominated by members of the Democratic Party. A large media company with 6,883 employees and an annual revenue of $3.0B, TEGNA is headquartered in Virginia. Record subscription revenue of $1.5 billion was up four percent year-over-year, driven by rate increases and partially offset by subscriber declines. The reporting is factual and usually sourced. [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. [28], On June 11, 2019, it was reported Tegna Inc. purchased the Dispatch Broadcast Group's television and radio assets, subject to regulatory approval, for $535 million. Anne Bentley Does the media have a liberal bias? Texas GOP votes to censure Rep. Tony Gonzales over support on gun, same-sex Trump backs flying cars, calls for new cities in campaign video, Texas property tax bill excludes divorced, LGBTQ couples from getting relief. Advertising and sponsored content generate revenue. [39] Tegna's shareholders chose to re-elect all 12 current board members.
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