TEGNA Announces Multi-Year Agreement with Fubo

Rhea-AI Summary

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.

Positive

• Expanded distribution through partnership with FuboTV enhances content reach
• Strategic access to major sports markets with NBA and NHL game broadcasts
• Multi-year agreement provides stable, long-term revenue stream

Negative

• None.

Insights

Media Distribution Analyst

The distribution agreement with Fubo represents a strategic expansion of TEGNA's content reach, particularly in key sports markets. The deal includes significant local sports coverage with 70+ Dallas Mavericks games, 70+ Seattle Kraken games and 40 combined Denver Nuggets and Colorado Avalanche games. This partnership enhances TEGNA's streaming presence and revenue potential through Fubo's sports-centric platform, which has shown strong subscriber growth. The multi-year nature of the agreement provides stable, recurring revenue streams and strengthens TEGNA's position in the evolving media landscape where streaming partnerships are becoming increasingly valuable. Local sports rights are particularly valuable assets as they drive consistent viewership and advertising revenue. The deal's focus on major market teams in Dallas, Seattle and Denver represents significant audience potential.

TYSONS, Va.--(BUSINESS WIRE)-- TEGNA (NYSE: TGNA) announced today that it has reached a new multi-year agreement with FuboTV Inc. (NYSE: FUBO), the leading sports-first live TV streaming platform.

Fubo subscribers now have access to live telecasts from KFAA in Dallas, with KONG in Seattle and KTVD in Denver expected to launch in the coming days. This season, KFAA will broadcast 70 or more Dallas Mavericks games, KONG will air 70 or more Seattle Kraken games and KTVD will broadcast 20 Denver Nuggets games and 20 Colorado Avalanche games.

“We’re thrilled to enhance access for viewers and fans through our partnership with Fubo,” said Brad Ramsey, senior vice president, media operations, TEGNA. “By leveraging Fubo’s innovative platform and our dedication to collaborating with premier NBA and NHL teams in our markets, we’re committed to ensuring fans never miss a moment of the action.”

About TEGNA

TEGNA Inc. (NYSE: TGNA) serves local communities across the U.S. through trustworthy journalism, engaging content, and tools that help people navigate their daily lives. Through customized marketing solutions, we help businesses grow and thrive. With 64 television stations in 51 U.S. markets, TEGNA reaches approximately 100 million people every month across the web, mobile apps, streaming, and linear television. For more information, visit TEGNA.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241031755176/en/

For TEGNA media inquiries, contact:

Anne Bentley

Vice President, Chief Communications Officer

703-873-6366

abentley@TEGNA.com

For TEGNA investor inquiries, contact:

Julie Heskett

Senior Vice President, Chief Financial Officer

703-873-6747

investorrelations@TEGNA.com

Source: TEGNA

FAQ

What sports content will TEGNA (TGNA) provide through the FuboTV agreement?

Through the FuboTV agreement, TEGNA will provide 70+ Dallas Mavericks games on KFAA, 70+ Seattle Kraken games on KONG, and 20 games each for Denver Nuggets and Colorado Avalanche on KTVD.

Which TEGNA (TGNA) stations are included in the 2024 FuboTV agreement?

The agreement includes KFAA in Dallas, KONG in Seattle, and KTVD in Denver.

How many NBA and NHL games will TEGNA (TGNA) broadcast through FuboTV?

TEGNA will broadcast over 180 games total, including 70+ NBA games (Mavericks), 70+ NHL games (Kraken), and 40 combined games for the Nuggets and Avalanche.