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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 (NYSE: TGNA) has announced the appointment of Michael Steib as the new President, CEO, and Director, effective August 12, 2024, succeeding David Lougee who will retire but remain as a Senior Advisor. Steib, currently the CEO of Artsy, brings extensive experience from his previous roles at XO Group, NBCUniversal, and Google. TEGNA's Chairman Howard Elias highlighted Steib's expertise in technology, digital media, and leadership.
Additionally, TEGNA appointed two new independent directors: Catherine Dunleavy, formerly President of Away, and Denmark West, who leads Market Intelligence and Strategic Engagements at X, The Moonshot Factory. These appointments aim to strengthen TEGNA's board with additional financial and digital media expertise.
TEGNA (NYSE: TGNA) will host a conference call to discuss its Q2 2024 earnings results on August 7, 2024, at 10 a.m. (ET). The call, accessible via TEGNA’s website, is available to investors, financial community, media, and the public. Participants can register at investors.TEGNA.com to receive dial-in details and a unique PIN. The earnings announcement will be released before the market opens on August 7, and related materials will be available on the Investor Relations section of the website. The webcast will be archived for future access.
TEGNA has appointed Micah Malloy as president and general manager of NEWS CENTER Maine, overseeing operations at WCSH and WLBZ, effective June 10. Malloy, a fourth-generation Mainer, has been with the stations for 11 years, most recently as director of sales since 2016. He will manage station operations, community outreach, and advertising results. Malloy succeeds Brian Cliffe, who's retiring after 42 years in broadcasting. Paul Trelstad, senior VP of media operations, praised Malloy’s leadership and commitment to serving Maine. Malloy brings extensive experience from roles in sales management at Time Warner Cable and radio stations, as well as marketing in the automotive sector.
TEGNA's WUSA9, the CBS affiliate for Washington D.C., Virginia, and Maryland, has announced an exclusive partnership with the Washington Commanders NFL team. This collaboration solidifies WUSA9 as the official television station for the Commanders in the DMV area. Starting in the 2024 season, WUSA9 will launch two new shows: 'Commanders Kick-Off' and 'Commanders Weekly,' offering pregame coverage and community-focused content, respectively. The station will also air the Commanders' first two preseason games in 2024. This partnership aims to provide in-depth, exclusive coverage and enhance fan engagement.
TEGNA (NYSE: TGNA) announced that its stations received a total of 73 Regional Edward R. Murrow Awards.
Awards were given across several categories, including six for overall excellence, seven for diversity, equity, and inclusion, and five for innovation.
Twenty-three TEGNA stations were honored, with notable recipients including KARE in Minneapolis, which won multiple awards such as Overall Excellence and Excellence in Writing, and KHOU in Houston, which was recognized for its efforts in diversity and continuing coverage.
The awards highlight TEGNA's dedication to impactful journalism and serving local communities.
TEGNA (NYSE: TGNA) has been named a 2024 honoree of The Civic 50 by Points of Light, marking its fifth consecutive year on the list and fourth as the Telecommunications Sector Leader. TEGNA Foundation has awarded 155 Community Grants across 37 markets, supporting diverse UN Sustainable Development Goals. Key initiatives include food provision in Charlotte, a nature trail in Dallas, children's rehabilitation in Buffalo, and academic support in Tampa. Additionally, TEGNA approved nine Media Grants to support diverse journalism education. More details can be found at TEGNAFoundation.org.
TEGNA Inc. announced David Loving as the new president and general manager at KHOU and KTBU in Houston, effective May 20. Loving brings a wealth of experience, having previously served in various leadership roles in the media industry. His return to Houston, where he previously excelled at Univision, is seen as a valuable asset. TEGNA's senior vice president is optimistic about Loving's impact, highlighting his understanding of the city and community. Loving expressed enthusiasm for the new role, emphasizing his desire to collaborate with the KHOU team and engage with Houston's diverse community.
TEGNA Inc. reported first quarter 2024 results meeting key guidance metrics and reaffirming full-year guidance. The company returned over $100 million to shareholders, increased dividend by 10%, expects $90-$100 million annual cost savings by 2025, integrated Octillion Media for enhanced revenue growth, and achieved $714 million in total revenue with a decrease of 4% year-over-year. Despite lower subscription revenue, advertising and marketing services showed positive growth. Net income was $190 million on GAAP basis, with adjusted EBITDA at $174 million and adjusted free cash flow at $113 million for the quarter. Capital allocation plan aims to return $350 million to shareholders in 2024. CEO emphasizes business transformation initiatives, local advertising performance, and future opportunities. Full-year and second quarter guidance metrics are provided for 2024. Strategic updates include partnerships with sports teams for broadcast, new series debuts, disinformation training for journalists, and credit rating affirmation by S&P Global.
TEGNA Inc. (NYSE: TGNA) and the Indiana Fever announced an expanded broadcast distribution partnership, adding 11 markets to air 17 Fever games for free in 2024. The games feature top players like Caitlin Clark and Aliyah Boston, with a 12-market footprint reaching 4.6 million homes. TEGNA collaborated with WNBA to include coverage in Iowa, highlighting a pivotal moment for women's sports. Games to be broadcast on various stations, offering a unique fan experience.
Greg Retsinas has been named president and general manager at KGW, TEGNA’s NBC affiliate in Portland, effective June 3. He brings extensive experience in content, digital, and sales strategy, with a strong track record of innovative storytelling and community partnerships. Retsinas's leadership at KGW has been characterized by integrity, curiosity, and accountability, making him well-suited to lead the station into the future.
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