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TEGNA Inc. (NYSE: TGNA) is a prominent media company known for its extensive portfolio of broadcast stations and digital businesses across the United States. TEGNA Media includes 46 television stations, making it the largest independent station group of major network affiliates in the top 25 markets. This impressive reach spans approximately one-third of all U.S. television households, featuring leading affiliations such as #1 NBC affiliate group, #1 CBS affiliate group, and #4 ABC affiliate group.
Core Business: TEGNA's core operations revolve around broadcasting and digital media. The company owns and operates multicast networks like True Crime Network, Twist, and Quest. These networks, along with TEGNA's robust digital presence across online, mobile, connected TV, and social platforms, ensure comprehensive coverage and accessibility for consumers on all devices.
Revenue Streams: The company's revenue is generated through various channels, including advertising and marketing services, subscriptions, political advertising, and other related services. Notably, TEGNA combines key digital assets like Cars.com and CareerBuilder, offering unique advertising opportunities in automotive and human capital solutions.
Recent Achievements: Recently, TEGNA formed multi-year agreements with the Seattle Kraken and Prime Video to broadcast and stream NHL games, significantly enhancing its sports broadcasting portfolio. This collaboration is set to bring more than 70 Kraken games to fans across the Pacific Northwest, marking a significant expansion in TEGNA's sports coverage.
Financial Condition: TEGNA has demonstrated strong financial health, supported by its diversified revenue streams and strategic partnerships. The company's innovative advertising solutions, including Premion for OTT platforms, further bolster its market position.
With a commitment to delivering empowering stories, impactful investigations, and innovative marketing solutions, TEGNA continues to play a crucial role in the media landscape, reaching over 90 million Americans and empowering them with the information they need to navigate their world successfully.
TEGNA Inc. shareholders have re-elected board members, including Chairman Howard D. Elias and CEO Dave Lougee, during the annual meeting. They ratified the appointment of PricewaterhouseCoopers LLP as the independent accounting firm for 2022 and approved an advisory resolution on executive compensation. Additionally, shareholders voted in favor of a proposal allowing owners of 10% of TEGNA's stock to call special meetings. Susan Ness retired from the board, concluding nearly 11 years of service.
TEGNA Inc. (NYSE: TGNA) shareholders re-elected Board members during the annual meeting, including Chairman Howard D. Elias and CEO Dave Lougee. The shareholders also ratified PricewaterhouseCoopers LLP as the independent accounting firm for the fiscal year 2022 and approved an advisory on executive compensation. Additionally, a proposal allowing shareholders owning 10% of outstanding stock to call special meetings was approved. Susan Ness retired from the Board after nearly 11 years of service.
TEGNA Inc. (NYSE: TGNA) has appointed John Treviño as president and general manager of KBMT-KJAC, effective June 13. Treviño, who has over 30 years of experience in local broadcasting, previously served as VP and GM at KDAF in Dallas-Fort Worth, where he launched innovative programming and secured key broadcast rights. In his new role, he will oversee the dual ABC and NBC affiliate operations in Southeast Texas, focusing on community engagement and advertiser results. Treviño's extensive background aims to strengthen TEGNA's presence in the region.
TEGNA Inc. (NYSE: TGNA) announced its stations have achieved a record 96 Regional Edward R. Murrow Awards, a historic high for the company and more than any other local broadcast group. KARE in Minneapolis led with 11 individual awards. Notably, seven stations received the overall excellence honor, while four won for excellence in innovation. The awards, sponsored by the Radio Television Digital News Association, celebrate excellence in broadcast and digital journalism, reflecting TEGNA's commitment to quality reporting and community engagement.
The TEGNA Foundation has announced its first round of 2022 Media Grants aimed at enhancing training for diverse journalists and supporting media professionals. CEO Dave Lougee emphasized the foundation's commitment to increasing representation in the media industry. Grant recipients include organizations like the Asian American Journalists Association and the National Association of Black Journalists, funding various programs to support media diversity and ethics. The mission of the TEGNA Foundation focuses on media freedom, journalism ethics, and fostering the next generation of journalists.
TEGNA Inc. (NYSE: TGNA) announced that approximately 78% of its shareholders voted to adopt the Merger Agreement with Standard General L.P. at a special meeting. This transaction, expected to close in the second half of 2022, will result in TEGNA becoming a private company, ceasing to trade on the New York Stock Exchange. Regulatory approvals and other customary conditions need to be fulfilled before the deal is finalized. TEGNA operates 64 television stations across 51 U.S. markets, providing innovative media solutions.
TEGNA Inc. (NYSE: TGNA) reported record first-quarter financial results for the period ended March 31, 2022, with total revenue of $774 million, a 6% increase year-over-year. Subscription revenue reached $392 million, up 1%, while advertising and marketing services revenue hit $354 million, growing 10%. Net income stood at $134 million, and Adjusted EBITDA was a record $250 million, up 8%. The company is on track to finalize its acquisition by Standard General in the second half of 2022, pending approvals. Free cash flow reached $182 million, and TEGNA reduced its outstanding borrowings.
TEGNA Inc. (NYSE: TGNA) is launching new OTT streaming apps and 24/7 streaming channels across its 64 stations in 51 markets, starting with 11Alive+ in Atlanta and WTHR13+ in Indianapolis. These apps, designed for Roku and Fire TV, will provide a local twenty-four-hour “Watch” stream featuring live news, weather, and local sports content. With over 100 million streaming minutes monthly, TEGNA aims to enhance digital viewership and engagement, leveraging its OTT advertising platform, Premion, to boost revenue. The launch reflects TEGNA's commitment to delivering accessible local content.
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