TEGNA Inc. - TGNA STOCK NEWS

Standard General L.P. has announced its pending acquisition of TEGNA Inc. (TGNA) is under regulatory review, with concerns from authorities about potential negative impacts on cable and satellite TV consumers amid inflation concerns. To address these regulatory issues, Standard General has pledged to waive certain rights related to the transaction, reflecting its commitment to public interest benefits. The company remains optimistic about TEGNA's future under its leadership and is committed to collaborating with regulators to finalize the acquisition.

Standard General and TEGNA Inc. announced that the National Telecommunications and Information Administration has confirmed no objections to their upcoming transaction. This deal aims to enhance local journalism and increase minority ownership in broadcasting, with Standard General pledging an investment focused on local stations. Together, they plan to form the largest minority-owned and female-led television station group in U.S. history. Both companies continue to cooperate with regulatory reviews to finalize the transaction.

TEGNA Inc. (TGNA) reported record third-quarter results for 2022, achieving total revenue of $803 million, a 6% increase year-over-year. Subscription revenue reached $377 million, up 2%, while advertising and marketing services (AMS) revenue declined 12% to $321 million. Political revenue rose 28% compared to 2018. Net income was $146 million, and Adjusted EBITDA totaled $266 million. The company continues to pursue its acquisition by Standard General, expected to close in the second half of 2022, pending regulatory approvals.

TEGNA Inc. (NYSE: TGNA) has declared a quarterly dividend of 9.5 cents per share, with payment scheduled for January 3, 2023, to stockholders on record as of December 9, 2022. With 64 television stations across 51 U.S. markets, TEGNA is a leading media company, reaching approximately 39% of U.S. television households. The company’s innovative marketing solutions and multicast networks contribute to its impactful community engagement and revenue generation.

Standard General responds to ad hominem attacks regarding its proposed acquisition of TEGNA (NYSE: TGNA), refuting claims made by NewsGuild representatives. The firm emphasizes its commitment to enhancing local media services and highlights substantial support from civil rights groups, legislators, and minority media organizations for the acquisition. Standard General insists its transaction is compliant with FCC regulations and is backed by extensive documentation, asserting that criticisms are unfounded and distract from its qualifications as minority media owners.

Standard General L.P. announced its pending acquisition of TEGNA (NYSE: TGNA), aiming to create the largest minority-owned and female-led broadcast station group in U.S. history. The acquisition is said to provide significant public interest benefits, enhancing local news and community service. Standard General refuted claims made by Congress members regarding media consolidation and job cuts, asserting its commitment to localism and diversity. The transaction complies with FCC rules and awaits approval, emphasizing a goal of increasing minority-owned TV stations in the U.S.

TEGNA Inc. (TGNA) reported a second quarter record total revenue of $785 million, marking a 7% increase year-over-year. Key drivers included political revenue at $51 million (up 53% from 2018) and subscription revenue at $389 million (up 4%). The company achieved net income of $132 million and Adjusted EBITDA of $256 million, a 12% increase from last year. TEGNA is set to finalize its acquisition by an affiliate of Standard General in H2 2022, subject to regulatory approvals.

TEGNA Inc. (NYSE: TGNA) has declared a quarterly dividend of 9.5 cents per share, to be paid on October 3, 2022, for stockholders on record as of September 9, 2022. TEGNA, a major media company with 64 TV stations across 51 U.S. markets, emphasizes community-driven storytelling and innovative marketing solutions. The company reaches approximately 39% of television households nationwide and remains committed to enhancing its operational capabilities and market presence.