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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) 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.
TEGNA Inc. (NYSE: TGNA) has appointed Carrie Yates as the new president and general manager of WZDX, their Fox affiliate in Huntsville, Alabama. Yates, who has been serving as interim general manager since spring, will oversee station operations across all platforms, community outreach, and advertiser relations.
Yates brings extensive experience in sales leadership roles across Alabama, including successful stints at WSFA in Montgomery and WAFF in Huntsville. Her track record includes driving record revenue and digital performance. Paul Trelstad, TEGNA's senior VP of media operations, praised Yates' experience and understanding of the Alabama market.
Yates expressed enthusiasm for continuing her work with TEGNA in Huntsville, emphasizing her commitment to the community, employees, and advertisers. She holds a B.S. in Human Environmental Sciences from the University of Alabama Tuscaloosa and has a history of community service involvement.
ALLCITY Network, a multi-platform local sports network operator, has secured Series B funding led by TEGNA (NYSE: TGNA), with participation from existing investors. This investment pushes ALLCITY's total funding beyond $25 million, bolstering its position in the digital sports industry. The deal includes a commercial agreement for cross-promotion, content licensing, and distribution via TEGNA's channels and apps.
Key highlights:
- ALLCITY and TEGNA's Locked On Podcast Network talents will make guest appearances on each other's shows
- Funding will support market expansion, streaming investments, and key management hires
- Partnership aims to strengthen local sports coverage and community engagement
TEGNA stations have received ten 2024 National Edward R. Murrow Awards for excellence in broadcast journalism, surpassing all other station groups. KARE in Minneapolis was recognized for Overall Excellence in Large Market Television for the third consecutive year. The awards honor outstanding achievements in broadcast and digital journalism.
Notable winners include:
- KARE (Minneapolis): Overall Excellence, Excellence in Writing, and Excellence in Video
- KHOU (Houston): Continuing Coverage and Excellence in Diversity, Equity and Inclusion
- NEWS CENTER Maine: Breaking News (Small Market)
- WBNS (Columbus): Breaking News (Large Market)
- KSDK (St. Louis): Sports Reporting
- WMAZ (Macon): Excellence in Innovation (Small Market)
- WTIC (Hartford): Excellence in Innovation (Large Market)
TEGNA stations also received 73 Regional Edward R. Murrow Awards, including six for Overall Excellence.
TEGNA Inc. (NYSE: TGNA) has announced the appointment of Jim Kizer as president and general manager at WOI and KCWI, TEGNA's ABC and CW duopoly serving Des Moines, Iowa, effective immediately. Kizer will retain his current role as president and general manager at WQAD serving Quad Cities in Iowa and Illinois.
Kizer brings extensive experience in media executive and sales leadership positions. He has led the Quad Cities team for 12 years and held various leadership roles in the broadcast industry. Paul Trelstad, senior vice president of media operations at TEGNA, praised Kizer's exceptional leadership and deep understanding of Iowa.
Kizer expressed excitement about working with the Des Moines team and building on the stations' success. He is actively involved in community organizations and enjoys various outdoor activities in his free time.
TEGNA Inc. (NYSE: TGNA) reported its Q2 2024 financial results and provided Q3 2024 guidance. Key highlights include:
- Total revenue decreased 3% to $710 million, within guidance range
- Subscription revenue down 7% to $367 million due to subscriber declines
- AMS revenue fell 5% to $301 million due to softness in national accounts
- GAAP EPS of $0.48, Non-GAAP EPS of $0.50
- Adjusted EBITDA decreased 10% to $176 million
- On track to return ~$350 million to shareholders in 2024
- Reaffirmed full-year 2024 guidance
- Mike Steib to succeed David Lougee as President and CEO on August 12, 2024
- Appointed two new independent Directors to the Board
The company expects a robust political cycle in H2 2024 and benefits from Summer Olympics coverage.
TEGNA Inc. (NYSE: TGNA) has announced a regular quarterly dividend of 12.5 cents per share, payable on October 1, 2024, to stockholders of record as of September 6, 2024. This dividend represents a 10 percent increase from the previous 11.375 cents per share, approved by TEGNA's Board in May 2024. The increase follows a 20 percent dividend hike implemented in 2023, demonstrating TEGNA's commitment to delivering value to shareholders through consistent dividend growth.
TEGNA, the Seattle Kraken, and Gray Media have announced an expansion of the Kraken's broadcast network into Alaska. Starting with the 2024-2025 season, Gray Media's KAUU in Anchorage and KYEX in Juneau will air all locally available Kraken games free over-the-air. This follows TEGNA's recent decision to broadcast approximately 70 regular season Kraken games per year on KING 5 and KONG in Seattle, KGW in Portland, and KREM and KSKN in Spokane. Additional broadcast partners in Washington and Oregon are expected soon. The expansion aims to broaden the Kraken's fan base and increase accessibility for viewers. The Kraken's 2024-25 season will start on October 8 against the St. Louis Blues at Climate Pledge Arena, with new head coach Dan Bylsma and assistant coaches Bob Woods and Jessica Campbell.
TEGNA has appointed Christopher Franklin as the president and general manager of its Memphis stations, WATN and WLMT. Effective immediately, Franklin, who served as interim GM earlier this year, will oversee station operations, community outreach, and advertiser results. Franklin, with over 25 years in media and marketing, joined WATN/WLMT in 2020 as marketing director. He has also held regional marketing leadership roles within TEGNA, served on the ABC Network Marketing Advisory Board, and is a new member of the NATAS Midsouth Board of Governors. Paul Trelstad, TEGNA's senior VP of media operations, emphasized Franklin's passion for Memphis and his commitment to community engagement.
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