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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. (NYSE: TGNA) declared a dividend of seven cents per share, payable on April 1, 2021, to stockholders of record as of March 5, 2021. The company's president, Dave Lougee, emphasized the company's operational excellence and strong performance in a challenging market. TEGNA operates 64 television stations in 51 U.S. markets, reaching approximately 39 percent of U.S. television households. The firm remains committed to delivering value for its shareholders.
Entercom (NYSE: ETM) has announced a content agreement with Locked On Podcast Network, enhancing its position as the leader in local sports radio. This marks Entercom's fourth recent strategic move in sports audio, following partnerships with FanDuel and the acquisition of the QL Gaming Group. The collaboration will allow Locked On’s podcasts to reach Entercom’s 40 million monthly users and leverage its extensive audience of nearly 30 million sports fans. This partnership is expected to foster new content development, including several co-produced shows.
TEGNA Inc. (NYSE: TGNA) announced that its stations WFAA (Dallas) and KING 5 (Seattle) received 2021 Alfred I. duPont-Columbia University Awards for excellence in journalism. WFAA was honored for its documentary “VERIFY Road Trip: Climate Truth,” which explored climate change, while KING 5 won for “Bob’s Choice,” chronicling a terminally ill cancer patient’s decision to utilize Washington’s Death with Dignity Act. These awards highlight the impactful role of local journalism in addressing critical societal issues.
TEGNA Inc. (NYSE: TGNA) appointed Bill Dallman as president and general manager of KARE 11, effective June 1, 2021. Dallman replaces John Remes and previously served as news director at KOMO News in Seattle. His extensive experience includes leadership roles at KCBS-KCAL in Los Angeles and KMSP in Minneapolis-St. Paul. Dallman is a native Minnesotan with over 25 years in media, holding a degree from the University of Wisconsin-Madison. TEGNA operates 64 television stations across 51 U.S. markets, serving approximately 39% of TV households nationwide.
Cadent has expanded its agreement with Premion, enhancing its advanced TV platform's capabilities. This partnership will utilize Cadent's Viewer Graph, a cookieless audience matching technology, to support cross-screen campaigns for regional and local advertisers. The agreement allows Premion to access Cadent's extensive audience solutions, including data onboarding and analytics, enabling better targeting through a comprehensive understanding of audiences. Advertisers can leverage unique datasets and gain insights into campaign performance, enhancing their marketing strategies.
TEGNA Inc. (NYSE: TGNA) has acquired the Locked On Podcast Network, a prominent podcast network focused on local sports. This acquisition aims to enhance TEGNA's presence in the growing podcast market and expand its sports content. Locked On produces daily podcasts for every major professional league and over 30 college programs, generating 8 million listens per month. The deal's financial terms were not disclosed, but TEGNA will finance it with available cash, expecting no material impact on its 2021 financials.
TEGNA Inc. (NYSE: TGNA) announced an expansion of its VERIFY initiative to combat disinformation and appointed Jonathan Forsythe as the managing editor to lead this effort. VERIFY, which has significantly increased its web traffic by 423% in 2020, will grow into a standalone brand in 2021 with new digital products and broader social media presence. Forsythe, with over 20 years of journalism experience, will oversee content creation and team management, enhancing the initiative's mission to provide accurate information and fight misinformation.
TEGNA Inc. (NYSE: TGNA) responded to Standard General’s nominations for the 2021 Annual Meeting, stating that their Nominating and Governance Committee will evaluate the proposed nominees and later recommend to the full Board. The statement emphasizes the commitment to act in the best interests of TEGNA shareholders.
The company notes potential risks that could impact its operations, including the effects of the COVID-19 pandemic on revenues, particularly in non-political advertising, and regulatory challenges that may affect TEGNA's future plans.
TEGNA (NYSE: TGNA) and FreeWheel, a Comcast Company (Nasdaq: CMCSA), have announced a multi-year agreement aimed at automating TEGNA's advertising transactions, including through the CTV/OTT platform Premion. The deal involves enhancing operations via FreeWheel’s Strata platform for processing electronic orders through ePort. This partnership will increase efficiency and access for over 1100 agencies to Premion's inventory from 125+ publishers, while also focusing on innovative marketplace technology for programmatic transactions.
TEGNA Inc. (NYSE: TGNA) is set to announce its fourth quarter and full-year 2020 earnings on March 1, 2021, at 9:00 a.m. ET. A conference call will follow, accessible to investors and the public via phone and webcast. The earnings announcement will precede the market opening on the same day. Post-call, a replay will be available on TEGNA's website until March 15. TEGNA operates 64 television stations in 51 U.S. markets, reaching about 39% of U.S. television households and providing innovative marketing solutions.