TEGNA Rejects Standard General’s Latest Unfounded Attacks

Rhea-AI Summary

TEGNA Inc. (NYSE: TGNA) addressed Standard General's recent criticism, asserting that the company is delivering record performance and achieving all-time high share prices. The statement highlights commendations from analysts, noting TEGNA as a well-run company with a recovering ad market and strong retransmission growth. The company encourages shareholders to vote for their highly qualified board using the GOLD proxy card during the upcoming Annual Meeting on May 7, 2021. Shareholders are advised to disregard any white proxy cards from Standard General.

Positive

• TEGNA reports record performance and all-time high share prices.
• Analysts view TEGNA as a well-run company, citing consistent quarterly growth.
• TEGNA benefits from a recovering ad market and strong retransmission growth.
• Company encourages shareholder support for board re-election, emphasizing diversification.

Negative

• None.

TEGNA Inc. (NYSE: TGNA) today issued the following statement in response to Standard General’s April 21, 2021 press release:

“Standard General’s latest unfounded attacks ignore what matters to shareholders: TEGNA is delivering record performance, building on its already strong record in ESG and DE&I, and shares are trading this month at all-time highs.”

The analyst community understands the reality as noted in recent commentary:¹

• “So a pattern has developed and it’s fair to say the TGNA platform is hitting on all cylinders.” – Huber (4/16/21)

• “TGNA pre-announced 1Q21 … We view this as another solid pronouncement from TGNA where quarterly numbers continue to grind higher with each subsequent print.” –Wells Fargo (4/14/21)

• “We have long viewed TEGNA as one of the best run companies in the group…” – Huber (3/2/21)

• “With the ad market recovering + political gaining steam + underappreciated net retrans growth, we think TGNA warrants a premium valuation vs its peer group.” – Wells Fargo (3/1/21)

• “A quality Broadcast story has only gotten better.” – Wells Fargo (2/1/21)

• “…we remain impressed with the healthy retrans growth and robust performance at Premion.” – J.P. Morgan (1/6/21)

We encourage shareholders to vote to reelect TEGNA’s highly qualified, engaged and diverse directors using the GOLD proxy card so that the Board and management team can continue to execute the company’s strategy to maximize value for ALL shareholders. Discard any white proxy cards received.

Please visit TEGNAvalue.com for additional materials about TEGNA’s 2021 Annual Meeting of Shareholders on May 7, 2021.

YOUR VOTE IS IMPORTANT, NO MATTER HOW MANY SHARES YOU OWN

If you have questions about how to vote your shares, please call the firm assisting us with the solicitation of proxies:

INNISFREE M&A INCORPORATED

Shareholders may call:

(877) 687-1865 (toll-free from the U.S. and Canada), or +1 (412) 232-3651 (from other countries)

IMPORTANT NOTE: Please simply discard any White proxy cards sent to you by Standard General. If you have already voted using a White proxy card, you can change your vote by using the GOLD proxy card to vote by telephone, Internet or by mail.

Only your latest-dated vote will count.

About TEGNA

TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. With 64 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top 25 markets among independent station groups, reaching approximately 39 percent of all television households nationwide. TEGNA also owns leading multicast networks True Crime Network and Quest. TEGNA Marketing Solutions (TMS) offers innovative solutions to help businesses reach consumers across televi

FAQ

What are TEGNA's recent performance highlights reported on April 21, 2021?

TEGNA reported delivering record performance and achieving all-time high share prices.

What is the upcoming date for TEGNA's Annual Meeting of Shareholders?

The Annual Meeting of Shareholders is scheduled for May 7, 2021.

What proxy card should TEGNA shareholders use?

Shareholders are encouraged to use the GOLD proxy card to support board re-election.

How do analysts view TEGNA's business performance?

Analysts have noted TEGNA as one of the best-run companies, with ongoing solid quarterly growth.

What advice does TEGNA give regarding proxy voting?

TEGNA advises shareholders to discard any white proxy cards sent by Standard General.