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 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.
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.
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