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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.
On July 7, 2021, five Charlotte, NC television stations launched NEXTGEN TV, a new broadcasting technology designed to enhance viewing experiences with 4K video, Dolby audio, and personalized content. The participating stations include WAXN-TV, WSOC-TV, WJZY-TV, WBTV-TV, and WCNC-TV. NEXTGEN TV aims to revolutionize how viewers interact with content by combining traditional over-the-air broadcasts with internet capabilities, making live sports and news more accessible. Viewers can rescan their TVs to access the service, which is available in nearly 40 cities nationwide.
TEGNA Inc. (NYSE: TGNA) announced the appointment of Christy Moreno as president and general manager of KING 5, the NBC affiliate in Seattle, effective August 2, 2021. Moreno previously held the same positions at WHAS11 in Louisville, where she launched successful initiatives and raised over $5 million for children's charities. Her track record includes leading award-winning newsrooms and promoting innovation. TEGNA operates 64 television stations, reaching 39% of U.S. TV households and offering innovative marketing solutions.
TEGNA Inc. (NYSE: TGNA) has partnered with TVSquared to enhance cross-platform, closed-loop measurement for advertisers. This initiative aims to deliver better insights into the impact of local data-driven television and OTT campaigns, supporting advertisers' business growth. TEGNA's network includes 64 stations in 51 markets, reaching around 48 million households. The collaboration is expected to improve performance metrics and optimize ad spending, demonstrating TEGNA's commitment to accountability in the evolving TV landscape.
TEGNA Inc. (NYSE: TGNA) announced that its CBS affiliate, WUSA in Washington, D.C., and NBC affiliate, WKYC in Cleveland, Ohio, have won four prestigious Gracie Awards from the Alliance for Women in Media Foundation. These awards recognize remarkable contributions by women in the media industry. Notable winners include Grace Chimel, Jasmine Whittington, and Jessica Miller, among others, who were acknowledged for impactful reporting and storytelling that highlight important social issues. TEGNA emphasizes its commitment to empowering communities through innovative media.
TEGNA Inc. (NYSE: TGNA) appointed Julie Eisenman as the new president and general manager of WNEP, effective June 14. Eisenman, who has been with TEGNA since 2015, succeeds Chuck Morgan, who retired in April. She will oversee the station’s content, sales, and operations, and is recognized for her leadership in creating successful newsroom strategies. Her background includes significant roles at other TEGNA affiliates and a deep understanding of the Pennsylvania market, which positions her to enhance WNEP's community engagement and operational success.
KARE 11, a TEGNA-owned NBC affiliate, has been awarded 10 Regional Edward R. Murrow Awards for its exceptional journalism. The station received accolades for Overall Excellence for four consecutive years, highlighting its achievements in broadcast and digital news during 2020. Notable recognition includes awards for Excellence in Diversity, Equity, and Inclusion, Excellence in Digital, and Excellence in Breaking News, particularly for coverage following George Floyd's death. This reinforces KARE 11's commitment to high-quality journalism amid challenges presented by the pandemic.
TEGNA Inc. (NYSE: TGNA) reported strong financial results for Q1 2021, with total revenue of $727 million, a 6% year-over-year increase. Subscription revenue reached a record $387 million, up 16%, while advertising and marketing services (AMS) revenues hit $323 million, a 9.4% rise. Net income rose 30% to $113 million, and Adjusted EBITDA was $231 million, a 9% increase. Free cash flow reached a record $159 million, representing 22% of revenue. Total debt stood at $3.5 billion, with a net leverage of 3.82x. TEGNA expects continued growth, including a projected increase in AMS revenues and subscription profits.
TEGNA (NYSE: TGNA) announced the re-election of all 12 director nominees at the 2021 Annual Meeting, reflecting strong shareholder support. Chairman Howard Elias expressed gratitude for the vote of confidence, indicating enhanced backing compared to the previous year. CEO Dave Lougee highlighted the successful execution of TEGNA's value-creation strategy, yielding record results. Additionally, shareholders approved PricewaterhouseCoopers as the independent auditor, endorsed executive compensation proposals, and removed supermajority voting provisions. The vote count is pending certification by the Independent Inspector of Elections.
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