Welcome to our dedicated page for Tegna news (Ticker: TGNA), a resource for investors and traders seeking the latest updates and insights on Tegna stock.
Overview
Tegna Inc (TGNA) stands out as a comprehensive media company that integrates traditional broadcast television with robust digital initiatives. The company harnesses the power of a large portfolio of local TV stations and digital platforms to deliver trusted local news, sports, and information across the United States. With a deep focus on broadcast media and digital advertising solutions, Tegna’s multi-platform presence strategically connects with millions of households, enabling advertisers to engage diverse audiences.
Core Business Areas
Tegna operates a dynamic mix of broadcast and digital media assets. On the broadcast front, it owns a diverse range of television stations, including major network affiliates in top U.S. markets. This extensive network ensures that Tegna is positioned at the forefront of local news and sports broadcasting, reaching a significant segment of television households nationwide. Additionally, the company manages a suite of multicast networks such as True Crime Network, Twist, and Quest, which cater to niche audience segments while reinforcing its market presence.
Digital Integration and Strategic Partnerships
Recognizing the digital transformation in media consumption, Tegna has bolstered its footprint through well-positioned digital businesses. The company’s portfolio includes notable digital properties such as Cars.com and CareerBuilder, platforms that offer critical human capital and automotive advertising solutions. Complementing these is G/O Digital, a digital marketing services unit that provides scalable, data-driven advertising solutions designed to deliver measurable results. Tegna’s strategic investments and commercial partnerships, including those in the local sports sector, further exemplify its commitment to innovative content delivery and audience engagement.
Market Position and Industry Influence
Within the competitive landscape of media and broadcasting, Tegna distinguishes itself through its nationally recognized portfolio and a commitment to local community service. By integrating high-quality news delivery with digital innovation, the company serves as a key intermediary between local advertisers and engaged viewers. Its emphasis on reliable and compelling content, paired with a comprehensive advertising model, positions Tegna as a vital player in local media. The firm’s robust operations across the U.S. markets, digital marketing prowess, and strategic sports content partnerships add further depth to its market significance.
Operational Model and Revenue Streams
Tegna generates revenue through a diversified model, including advertising and marketing sales on both broadcast and digital platforms, subscription-based services, and specialized advertising segments such as political advertising. The company’s integrated approach ensures that its content is accessible across all devices—online, mobile, and connected television—maximizing reach and engagement. This multi-faceted revenue model not only facilitates sustained operational stability but also underscores the firm's agility in responding to shifting media consumption trends.
Commitment to Local Communities
At its core, Tegna is deeply committed to serving local communities by providing reliable and locally relevant news and information. The firm’s portfolio of broadcast stations and digital platforms are tailored to address the specific needs of local markets, fostering community engagement and trust. This localized approach is further reinforced by strategic sports and community-centric partnerships, which bring people together through comprehensive media coverage of local events and stories.
Expertise in Digital Transformation
Embracing the digital age, Tegna has continually evolved its business strategy to integrate traditional media with cutting-edge digital solutions. The company’s creation of specialized digital marketing services and targeted content delivery mechanisms demonstrates a forward-thinking approach that is essential for sustained relevance in today’s media landscape. This balanced strategy ensures that Tegna not only preserves the integrity of local broadcast news but also capitalizes on the expansive opportunities offered by digital innovation.
Conclusion
Tegna Inc’s robust blend of broadcast television and diversified digital platforms positions it as a critical conduit for local news, sports, and advertising. By maintaining a strong connection with local communities while leveraging digital transformation, Tegna provides an informative, engaging, and reliable media experience. The company’s commitment to quality journalism, innovative digital marketing, and strategic partnerships continues to solidify its role as an indispensable resource in the evolving media environment.
TEGNA (TGNA) reported strong Q3 2024 results with total revenue increasing 13% to $807 million, driven by record political advertising of $126 million and positive growth in advertising and marketing services. Subscription revenue decreased 6% to $356 million due to subscriber declines. The company achieved $270 million in Adjusted EBITDA, up 62%. GAAP earnings per share reached $0.89, while non-GAAP EPS was $0.94. TEGNA returned over $90 million to shareholders through share repurchases and dividends, maintaining its commitment to return approximately $350 million in 2024.
TEGNA has announced a new multi-year agreement with FuboTV, the sports-first live TV streaming platform. The deal enables Fubo subscribers to access live telecasts from KFAA in Dallas, with KONG in Seattle and KTVD in Denver launching soon. KFAA will broadcast 70+ Dallas Mavericks games, KONG will air 70+ Seattle Kraken games, and KTVD will broadcast 20 Denver Nuggets games and 20 Colorado Avalanche games.
TEGNA has appointed Carolyn Mungo as president and general manager at WFAA-KFAA, its ABC affiliate serving Dallas-Ft. Worth. Mungo, who previously served as vice president and station manager since 2019, will oversee station operations across all platforms, community outreach, and advertising results. Under her leadership, WFAA has earned numerous prestigious awards, including ten National Edward R. Murrow awards and their first Overall Excellence award in 2023. She brings extensive experience in journalism and leadership, having previously served as executive news director and led coverage of major national stories.
TEGNA Inc. (NYSE: TGNA) has appointed Alex Tolston as senior vice president and chief legal officer, effective immediately. Tolston will lead the company's legal department and serve on the leadership team, reporting to CEO Mike Steib. His responsibilities include overseeing legal functions across corporate governance, content creation and distribution, regulatory matters, ethics and compliance, M&A, capital markets, and litigation.
Previously, Tolston was executive vice president, chief legal officer, and corporate secretary at Hemisphere Media Group, where he executed growth strategies and managed complex transactions. His experience includes acquisitions, joint ventures, and intellectual property strategy. Tolston holds a B.A. from Tulane University and a J.D. from New York Law School, and has prior experience at Paul, Weiss, Rifkind, Wharton & Garrison LLP and Bear, Stearns & Co., Inc.
TEGNA Inc. and the Dallas Mavericks have expanded their broadcast distribution for the upcoming NBA season. Eight additional stations will join six owned by TEGNA to broadcast Mavericks games not exclusively televised nationally, reaching approximately 14 million people in Texas. Starting October 26, these stations will air 70 or more games in the first season for free over-the-air.
The expansion includes stations in Amarillo, El Paso, Harlingen-Brownsville, Laredo, Lubbock, Sherman, Shreveport & Texarkana, and Wichita Falls & Lawton. This partnership involves stations from Gray, Nexstar, and Sinclair. TEGNA's newly rebranded KFAA Dallas-Ft. Worth (Ch. 29) will broadcast all non-exclusive national games, with 15 or more simulcast on WFAA (Ch. 8).
Kroenke Sports & Entertainment (KSE) has announced a broadcast rights agreement with TEGNA for 20 Denver Nuggets and 20 Colorado Avalanche games to be shown for free over-the-air on Denver's 9NEWS and My20. A new subscription-based platform, Altitude+, will launch in October, offering Nuggets and Avalanche games not exclusive to national networks for $19.95 per month.
The Altitude Sports network will continue to carry local games for subscribers of DIRECTV, DIRECTV STREAM, Fubo, and Spectrum TV. The broadcast agreement with TEGNA will enable nearly 3.5 million people in the Denver metro area to access games over-the-air. Altitude+ will also be available as a TV Everywhere service at no additional cost for customers who currently subscribe to a TV package that includes Altitude Sports.
TEGNA Inc. (NYSE: TGNA) has announced that Lynn Beall, executive vice president and chief operating officer of media operations, will depart the company in mid-2025 after a significant transition period. Beall, who joined TEGNA in 1988, has held her current position since 2017, overseeing 64 stations, news and content strategy, revenue growth, and network relationships. She is also vice chair of the National Association of Broadcasters Television Board and serves on the CBS Television Affiliates Association Board's executive committee.
CEO Mike Steib praised Beall's leadership and contributions to TEGNA's growth from 12 stations in 1988 to 64 today. During the transition period, Beall will work with the TEGNA team to maximize opportunities in audience engagement and customer service.
TEGNA Inc. (NYSE: TGNA) has announced it will host a conference call to discuss its third quarter 2024 earnings results on Thursday, November 7, 2024, at 9 a.m. (ET). The call will be webcast through the company's website and is open to investors, the financial community, media, and the public. Phone participants must register in advance to receive dial-in numbers and a unique PIN. TEGNA's earnings announcement will be released before the market opens on November 7, with related materials available through the Investor Relations section of TEGNA's website. The webcast will be archived for future access.
TEGNA Inc. (NYSE: TGNA) has announced that Ellen Crooke, senior vice president of news, will retire in January 2025. Crooke, who joined TEGNA in 2002, has led the company's news team since 2014. During her tenure, she has driven content innovation efforts, launched VERIFY, crafted the Principles of Ethical Journalism, and spearheaded several journalism training programs.
Crooke's career at TEGNA includes news leadership roles at WXIA in Atlanta and WGRZ in Buffalo. She is a recipient of four National Edward R. Murrow Awards and multiple Southeast Emmy Awards. Crooke has also served on the Radio Television Digital News Association (RTDNA) Board of Directors and continues to work with RTDNA on trust in journalism issues.
The Dallas Mavericks have announced a new multi-year broadcast rights agreement with TEGNA (NYSE: TGNA). This deal will bring all Mavericks games not exclusively televised nationally to approximately 10 million people in Texas, nearly tripling the current reach. Starting October 26, KMPX Dallas-Ft. Worth (Ch. 29) will broadcast 70+ games for free over-the-air, with 15+ games simulcast on WFAA Dallas-Ft. Worth (Ch. 8). The games will also be broadcast on TEGNA stations in Waco, Tyler, Midland-Odessa, Abilene, and San Angelo. WFAA becomes the official local broadcast partner of the Mavericks, providing extensive coverage. TEGNA will lead local and regional advertising and sponsorship sales for all local games.
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