QUARTERLY REPORT

Tegna 2Q Revenue Climbs 7%

The increase to $785 million is driven by growth in both political and subscription revenues.

Tegna Announces Quarterly Dividend

Tegna Inc.’s board of directors declared a regular quarterly dividend of 9.5 cents per share, payable on Oct. 3, to stockholders of record as of the close of business on Sept. 9.

Standard General: FCC Tegna Comment Extension Could Cost Millions

Standard General (SGCI) has told the FCC that the two-week comment extension it has granted on the proposed Standard General-Tegna merger could cost the company millions of dollars. SGCI, in opposing a comment extension the FCC ultimately granted, told the FCC that the way the deal is structured the per-share price SGCI has to pay escalates based on the closing date.

MARKET SHARE

KUSA And Tegna Award Denver Nonprofits $35,000 In Grants

Unions Try To Block Tegna-Standard General Deal

The NewsGuild-CWA and and the National Association of Broadcast Employees and Technicians (NABET)-CWA filed a petition to dismiss or deny the deal with the FCC on Wednesday (June 22), the deadline for such filings. They say the deal, which was approved by Tegna shareholders in May, and interrelated transactions — what they labeled an “unprecedented array of sequenced transactions and swaps” — are actually an attempt to “game the commission’s ownership and retransmission consent rules in ways that contravene the commission’s public interest standard.”

Standard General To Tegna Employees: ‘No Intention To Reduce Staff’

In a highly unusual move during a takeover, Standard Media CEO Deb McDermott tries to calm rumors and concerns about staff cuts.

FCC Asks More Questions About Tegna Sale

The FCC is asking more questions about private equity company Standard General’s planned purchase of Tegna and take it private. Tegna’s shareholders recently voted to approve the acquisition and the deal is still expected to close on schedule sometime in the second half of this year. But the transaction must still get regulatory approval and other customary closing conditions. Among its new questions, the FCC is asking how Standard General would negotiate retransmission agreements with cable providers for rights to carry TV station signals. It also asked about possible layoffs. And it asked for a detailed explanation with supporting data describing how the transaction would serve the public interest.

John Treviño Named GM Of KBMT-KJAC Beaumont, Texas

He moves from KDAF Dallas to oversee the Tegna ABC and NBC duopoly in southeast Texas.

NewsGuild Calls On Biden To Help Block Tegna Sale

The NewsGuild-CWA is asking President Biden to urge the FCC to block the purchase of Tegna TV stations by investment fund Standard General and Apollo Global Management. The guild, the nation’s largest union representing journalists, told the President in an open letter circulated widely Thursday (June 2) that the deal “would kill journalism jobs, undermine local news and raise prices for American families.”

Tegna Shareholders Approve Standard General Merger

Tegna Inc. said that at a special meeting of shareholders held earlier today, its shareholders voted to adopt the merger with an affiliate of Standard General L.P. According to the preliminary results announced at the special meeting, subject to certification by the independent inspector of election, approximately 78% of Tegna’s outstanding common shares voted to adopt the merger agreement. Tegna said the transaction is expected to close in the second half of 2022, subject to regulatory approvals and other customary closing conditions. Upon closing, Tegna will become a private company, and its shares will no longer be traded on the New York Stock Exchange.

Tegna Deal Critics Say FCC Needs More Data

Critics of the $8 billion-plus purchase of Tegna’s TV station group by investment fund Standard General have told the FCC it needs to collect more data on the proposed merger before it rules on whether it is in the public interest. Common Cause, joined by the NewsGuild-CWA union and Public Knowledge, have filed a formal motion for both additional documents that the FCC and the public can peruse and an extension of time to weigh in. Currently, the FCC has set a May 23 deadline for those wishing to formally oppose the deal.

QUARTERLY REPORT

Tegna 1Q Revenue Climbs 6%

The increase to $774 million is due to record first quarter advertising and marketing services revenue.

Tegna Unveils Rebooted Streaming Apps

Tegna has retooled the UX on its stations’ OTT apps, giving local markets programming autonomy and boosting Verify and its Locked On sports podcasts with a larger presence. Above, the new app on WTHR Indianapolis.

Nexstar, Tegna Declare Quarterly Cash Dividends

Nexstar Media Group’s board of directors declared a quarterly cash dividend of $0.90 per share on its Class A common stock. The dividend is payable on Friday, May 27, to shareholders of record on Friday, May 13. Also, Tegna‘s board declared a regular quarterly dividend of 9.5 cents per share, payable on July 1 to stockholders of record as of the close of business on June 3.

TVN FOCUS ON PROGRAMMING

Local TV Content Still The ‘Best Stuff,’ But Only If Investments Are Made In Its Producers

Executives from Fox Television Stations, E.W. Scripps, Tegna, Gray and Blackbird said in a TVNewsCheck webinar Thursday that local content is becoming increasingly crucial in a world of shrinking syndication options, but to pull it off more resources need to be invested in local people and the technology to support them.

NewsGuild Urges Review Of Apollo Financing Of Tegna Buyout

Tegna Shareholder Sues, Claiming Takeover Filings Are ‘False And Misleading’

A Tegna shareholder has sued the broadcaster and its board seeking to enjoin the company from closing its sale to Standard General because its proxy statements are “false and misleading.” Marc Waterman, who says in the suit he is an owner of Tegna common stock, filed the suit in the United States District Court on March 30.

TVN Webinar: Producing More Programming Without Breaking The Bank (Or Your Staff)

Executives from Fox Television Stations, Gray Television, Tegna, Blackbird and E.W. Scripps will discuss how they’re diversifying local programming to replace syndicated content and create new options for their linear and streaming channels, all while containing costs, in a TVNewsCheck Working Lunch Webinar on April 14 at 1 p.m. ET. Register here.

Tegna’s Verify Sees Uptick In Ukraine Queries

The fact-checking unit has seen surging subscribers on its YouTube and TikTok channels since Russia’s invasion of Ukraine began, and it’s using a variety of tools like RevEye, InVid, Google Maps and the Internet Archives Wayback Machine to debunk mis- and disinformation on the conflict.

Standard General Says Change Will Be Good For Tegna

Change is coming to Tegna. Standard General, which won a drawn-out auction for the broadcaster, believes local stations are valuable assets even as most of the television industry pivots to streaming. If Standard General thought local stations were being made obsolete by cord-cutting and the other forces eroding traditional ratings, then “we’re not making an investment this large,” Standard General founding partner Soo Kim says.

JESSELL AT LARGE

Kim Gets A Win In Tegna Buy, But Will Journalism Lose?

Hedge fund investor Soo Kim takes a long-sought prize in Tegna’s sale to Standard General and Apollo Global Management. The deal has many layers to tease out and potential regulatory headwinds, along with questions about the new regime’s depth of commitment to news.

Tegna Selling To Standard General For $5.4 Billion

Following the close of the $24-a-share transaction, Deb McDermott will continue to lead the group. Tegna stations in Austin (KVUE), Dallas (WFAA and KMPX) and Houston (KHOU and KTBU) are expected to be acquired by Cox Media Group from Standard General. Also after closing, Premion is expected to operate as a standalone business majority owned by Cox Media Group and Standard General.

Stations Battle For Booming Houston’s New Arrivals

To be sure, Houston is in a good place these days. The oil industry that fuels the local economy is on solid footing and the region for years has worked to diversify its business portfolio, with the likes of health care, aerospace and the legal profession growing. And the competition among stations for news audiences is robust. ABC owns KTRK and Graham Media has NBC affiliate KPRC. Fox owns KRIV-KTXH, and Tegna has CBS outlet KHOU. Univision owns KXLN and Telemundo holds KTMD.

TVN FOCUS ON SOCIAL MEDIA

Going Back To The Well To Boost TV News Audiences

Newsletters, documentaries, citizen journalism and better-quality UGC are driving better-engaged viewers in higher numbers to stations, leaders from Tegna, Graham Media and Sinclair said at a TVNewsCheck webinar last Friday, where they made clear that quality trumped novelty.

Tegna, Mediacom Reach New Retrans Deal

The carriage agreement includes retransmission consent for 12 Tegna-owned stations in Mediacom markets.

Talking TV: Tegna’s Powerful Investigative ‘Cry’

TVNewsCheck‘s Michael Depp talks with Madison Carter, a journalist with the Atticus investigative unit at WXIA Atlanta and Monika Diaz, content director at Tegna, about the work behind their new, three-part investigative series, A Different Cry, about rising suicide rates among Black youths.

Tegna In Advanced Sale Talks With Standard General

Tegna is in advanced discussions with one of its largest shareholders, Standard General, about a potential buyout at about $24 a share.

Tegna Stations Back On Dish Ahead Of Super Bowl

Satellite TV provider Dish has reached a deal to bring Tegna’s 64 stations back to its customers after a four-month dispute. Ahead of the Super Bowl and as the Winter Olympics is getting underway, the two companies announced the new deal Friday. The dispute started in October.

Tegna Earns Perfect Score for LGBTQ+ Workplace Equality for Sixth Consecutive Year

Tegna Inc. said today that, for the sixth consecutive year, it has received a perfect score of 100 on the Human Rights Campaign Foundation’s 2022 Corporate Equality Index (CEI), a national benchmarking survey and report measuring corporate policies and practices related to LGBTQ+ workplace equality. “It is an honor to once again receive a perfect […]

Tegna Stations To Debut ‘A Different Cry’ Investigation Into Rising Suicide Rates Among Black Youth in America

Tegna Inc. today announced A Different Cry, a three-part investigation into the rising suicide rates among Black youth in America, will make its digital premiere on Tegna stations’ Fire TV and Roku apps and the Watch section of all stations’ websites beginning Sunday, Jan. 23. A special hosted by WXIA Atlanta journalist Madison Carter and […]

Source: COVID Cases At KING Are Occurring At ‘An Alarming Rate’

Tegna’s Seattle NBC affiliate KING seems to be struggling with keeping its staff safe during the pandemic. A staffer has revealed that COVID-19 cases are occurring at “an alarming rate,” raising questions about the station’s commitment to COVID prevention and the care of its employees.

Standard General, Apollo Close In On $9B Deal For Tegna, Sources Say

Standard General and Apollo Global Management are closing in on a roughly $9 billion deal for television station owner Tegna, sources close to the situation say. The buyers and Tegna have cleared what sources saw as the major stumbling block: how much the Standard General-Apollo team would need to pay if the deal takes more than a year to clear the FCC and other regulators.

Tegna Names Rebecca Cantu KIII Corpus Christi GM

The station group promotes her from business development manager at its KHOU Houston to succeed the retiring Bruce Cummings.

Tegna-Verizon Fios Blackout Ends

Tegna on Saturday morning reached an agreement with Verizon Fios on a new retransmission consent contract. Five stations had been pulled on Wednesday, Jan. 5: WUSA Washington (CBS); WPMT York, Pa. (Fox); WVEC Norfolk, Va. (ABC); WGRZ Buffalo, N.Y. (NBC); and WCCW Waterbury, Conn. (CW).

Tegna Stations Go Dark On Verizon Fios

Tegna stations in at least four markets were pulled off Verizon Fios Tuesday evening, with the station group and pay TV operator unable to reach agreement on a new broadcast retransmission consent contract. The blackout involves Tegna stations in Washington, D.C. (CBS affiliate WUSA); Norfolk, Va. (ABC affiliate WVEC); Buffalo, N.Y. (NBC affiliate WGRZ); and Harrisburg, Pa. (Fox affiliate WPMT).

NEWSTECHFORUM 2022

Broadcasters Eye Cloud As Disaster-Recovery Solution

Executives from Fox Corp., Tegna, Sinclair and Bitcentral at least week’s NewsTECHForum said the cloud has become an increasingly important tool for business recovery, even with the caveat that the public cloud can be subject to its own outages.

Verizon Fios Subs Facing Tegna Blackout In Fee Dispute

Verizon Fios subscribers could lose access to programming from TV stations owned by Tegna in a year-end retransmission dispute. A potential blackout would mainly affect Verizon subscribers in the Washington, D.C., market. Tegna’s current agreement with Verizon Fios expires at the end of the year.

NEWSTECHFORUM 2021

Connected World Speeds Up News Reinvention

Executives and on-air talent from Newsy, Hearst, Fox Owned Stations, Tegna and NBCUniversal Local say the proliferation of digital distribution channels has dramatically accelerated the shape of the news product. The upsides, they say, are many.

Tegna’s Sale Talks Run Into Obstacle

Tegna has hit a roadblock in negotiations with suitors who are looking to buy the company in a deal worth $8.4 billion, sources close to the situation say.

News Production’s Journey To The Cloud In Spotlight At NewsTECHForum

Executives from Fox Corp., Sinclair, Tegna and Bitcentral will chart the trajectory of more and more news operations into the cloud or a hybrid cloud environment at TVNewsCheck’s NewsTECHForum on Dec. 14, presented in-person at the New York Hilton and virtually as well. Register here.