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A One-Man-Band In TV News For 29 Years

Brendan Keefe, chief investigative reporter at WXIA, Tegna’s NBC affiliate in Atlanta, has pretty much been a one-man-band since he was hired as a news photographer in 1991.  Today, Keefe is the leader of the investigative team at WXIA, and the corporate trainer for all 60 Tegna stations.

DMAS 11, 49 & 75

Executive, GM Appointments At Tegna

WUSA Washington GM Richard Dyer is promoted to senior vice president, adding WLTX Columbia and WFMY Greensboro to his oversight, while Kate Morris is named president and general manager of KPNX Phoenix.

Tegna Names Grady Tripp Chief Diversity Officer

He will oversee attracting, retaining and growing diverse talent, developing training programs to enhance awareness and accountability in diversity issues as well as facilitating the company’s racial diversity and inclusion employee working group.

Tegna Announces Pricing Of $550M Of Senior Notes

Tegna Inc. announced Tuesday that it has priced its previously announced offering of senior notes due 2026. The face value of the notes is $550 million, with an interest rate of 4.750%. The notes were priced at 100% of face value. Subject to certain exceptions, the notes may not be redeemed by the company prior […]

TVN’S NEWSROOM INNOVATORS

TVN’s Newsroom Innovators | As Elections Near, TV’s Fact-Checking Surges

Broadcasters, including CBS, E.W. Scripps, Hearst, Tegna and Graham Media, are bolstering their fact-checking operations as the 2020 election looms closer, partnering with outside groups like Politifact, FactCheck.org and First Draft to ensure their own trustworthiness with local viewers.

EARNINGS CALL

Delayed Sports To Boost Tegna This Quarter

In its second quarter earnings call with analysts, CEO Dave Lougee said that looking forward, the company will “benefit from a large number of unusual events that we would not normally see in the back half of the year that are rescheduled from the second quarter.”

QUARTERLY REPORT

Tegna Reports 8% 2Q Revenue Gain

The increase to $578 million is driven by acquisitions, continued growth in subscription revenue and political revenue, partially offset by advertising declines as a result of COVID-19.

Verify Is An Idea Whose Time Has Come

The epidemic of misinformation helps Tegna check the box with new audiences. “Our audiences are consuming news and local news in a way that they never have before, where their lives literally depend on it,” says Ellen Crooke, Tegna’s VP of news. “They are desperate to find somebody without an agenda, without spin to take some of the things that are out there and help them be smarter about what’s true and what’s not true.”

Tegna’s True Crime Network Launches OTT App For Amazon Fire TV, Apple TV, Chromecast, iOS, Android

Tegna Inc.’s 24/7 true crime multicast network True Crime Network today launched its free, ad-supported over-the-top streaming app on most major platforms. True crime fans can now watch True Crime Network’s programming on Amazon Fire TV, Apple TV, via mobile and tablet apps on iOS and Android operating systems, Chromecast, and on the web at watch.truecrimenetworktv.com. The True […]

TVN EXECUTIVE SESSION WITH ELLEN CROOKE

TVN Executive Session | Tegna: BLM Will Have Lasting Newsroom Impact

Ellen Crooke, Tegna’s VP of news, says the Black Lives Matter movement has promoted greater “intentionality” in the group’s efforts for diversity and inclusion in its news organizations and leadership. She adds that COVID-19 has also supercharged Tegna’s Verify fact-checking project and data visualization efforts.

Tegna Announces Quarterly Dividend

Tegna Inc.’s board of directors on Wednesday declared a dividend of 7 cents per share, payable on Oct. 1, 2020, to stockholders of record as of the close of business on Sept. 4, 2020. “Due to our rigorous financial discipline during these challenging times and our continued focus on our five-pillar strategy, we remain well positioned to manage through current conditions and build on our long track record of shareholder value creation,” said Dave Lougee, Tegna president and CEO.

Justice Net Relaunching As True Crime Network

Tegna’s multicast network is rebranding on July 27 as a one-stop destination for true crime content that will also offer a free, on-demand streaming service and podcasts.

Alphonso And Tegna Expand Local TV Measurement Partnership

TV data and measurement company Alphonso has renewed and expanded its agreement with Tegna to enable local advertisers to better understand the value and effectiveness of their local TV and OTT ad campaigns. The companies have renewed their multi-year partnership to include all of Premion, Tegna’s OTT and CTV advertising platforms. The new agreement enables […]

Tegna Implements Safety Protocols

As the coronavirus pandemic continues to impact people and newsrooms, Tegna has implemented corporate policies to keep reporters, producers and news executives safe.

TVN TECH

TVN Tech | ‘No Going Back’ To Pre-COVID Workflows

A TVNewsCheck webinar featuring top engineers from Fox, Tegna and Gray found stations are settling well into their COVID-19-induced remote workflows. Some of those workflows, including IP contribution, cloud-based collaboration and production automation, are likely to stay even after the pandemic subsides. “There’s no going back to what it was before this started,” says Tegna’s Robert Lydick.

WORKING LUNCH WEBINAR

TVN To Present: At-Home Production And The Future Of News Workflow

The coronavirus pandemic forced television news operations to produce almost entirely from producers’ and anchors’ homes. During a TVNewsCheck Working Lunch Webinar, set for May 28 at 1 p.m. ET, leading television engineering and operations executives will talk about what they’ve learned while facilitating this massive shift in workflow and the long-term changes likely to flow from it. Above, l-r: Speakers Richard Friedel, Fox Television Stations; Clint Moore, Gray Television; and Robert Lydick, Tegna Media.

EARNINGS CALL

Pandemic Gives Tegna Advertisers A Good Deal

“We are seeing improvement week-to-week,” CEO Dave Lougee said of ad sales trends. He declined to give a number, but said it is not as bad as the 50% drop in local mentioned in the Fox Corp. conference call.

QUARTERLY REPORT

Tegna Reports 32% 1Q Revenue Gain

The increase to $684 million is driven by strength in subscription and political revenues. Net income increased 17% and adjusted EBITDA rose 39%, benefiting from high-margin political revenues and recent acquisitions.

Tegna’s Texas Stations To Air Esports Competition

A budding esports rivalry will get a Texas-sized jolt of energy this month as the Dallas Fuel and the Houston Outlaws, two professional esports teams competing in the Overwatch League, collaborate to launch a first-of-its-kind esports skills and team competition series on television stations throughout Texas. The Lone Star Showdown presented by Samsung will feature three weeks […]

TVN TECH

TVN Tech | Virus Tested, Remote Workflows Eye Permanence

Coronavirus-necessitated remote workflows have spun up quickly and reliably to allow TV stations to keep broadcasting during the pandemic. There’s reason to believe they’ll stick around after the crisis subsides. Above: Avid Edit On Demand provides a full virtual production environment in the cloud, including Media Composer software and Avid NEXIS storage. (Source: Avid)

Shareholders Re-Elect All 12 Tegna Directors

The defeat of a proposal by Standard General’s Soo Kim is a victory for Tegna Chairman Howard Elias and CEO David Lougee and followed announcement of a 7 cents a share dividend to shareholders earlier this morning.

Tegna Announces Quarterly Dividend

Tegna Inc.’s board of directors today declared a dividend of 7 cents per share, payable on July 1 to stockholders of record as of the close of business on June 5. “Tegna’s positive momentum continued in the first quarter of 2020 as we continue to execute on our five-pillar strategy during these unprecedented times,” said Dave Lougee, president-CEO. “With our prudent capital structure and focus on our strategic vision, we remain positioned to create value for our shareholders.”

JESSELL AT LARGE

Jessell | Lougee Is Best Bet In Down-To-Wire Proxy Fight

Soo Kim’s ill-timed persistence for seats on Tegna’s board has been undermined by statements from three influential proxy advisers. And that’s a good thing.  Current management led by CEO David Lougee may have its faults, but it beats Kim, whose goal is to merge or sell the company out of existence.

Egan-Jones Recommends Tegna Nominees

All three proxy advisory firms recommend against the election of Soohyung Kim to the Tegna board.

Advisory Firm Recommends Tegna’s Nominees

Proxy adviser Glass Lewis & Co. says: “We believe Tegna shareholders would be best served at this time by voting to elect all of the company’s director nominees,” rejecting the move by Standard General to add four directors to the company’s 12-member board.

Tegna Expects 17% Gain in 1Q Net Income

Tegna, in the midst of a proxy fight with investor Standard General, said it expects first quarter net income to be $86 million, up 17%, but suspended its guidance for the rest of 2020 and 2021 because of uncertainty caused by the COVID-19 pandemic.

ISS Backs One Standard General Tegna Nominee

Proxy adviser Institutional Shareholder Services said on Friday that Tegna shareholders should elect one of hedge fund Standard General’s director nominees to the broadcast company’s board. ISS backed Colleen Brown, saying that her “direct experience with local stations would appear to be additive to the board.” ISS recommended that shareholders not vote for three other dissident nominees, including Soohyung Kim, the hedge fund’s founder, who has been pushing the company to consider selling itself.

Ariel Investments Sides With Tegna

Ariel Investments LLC, the 11th-largest shareholder of Tegna Inc., said on Monday it was backing the company’s board in its proxy contest with hedge fund Standard General. “We have been very happy with [Tegna’s] performance. They have delivered solid results. They have made the right moves by making accretive acquisitions,” Ariel portfolio fund manager John Miller said.

Tegna Issues Proxy Fight ‘Fact Sheet’

The company seeks to correct “Standard General’s many errors and false and misleading statements” while detailing Tegna’s “strong performance, experienced board, and focus on shareholder value.”

Tegna Updates Shareholders, Files Presentation

The company urges shareholders to vote for all Tegna nominees and highlights its “successful transformation, track record of value creation and accomplished board of directors.”

Tegna Furloughs Local TV News Staffs, Managers Take Temporary Pay Cut

Dave Lougee, Tegna CEO, sent an email to employees Monday announcing companywide weeklong furloughs to be taken in the second quarter of this year. The company is implementing a “one week furlough for most employees to be taken between the week of April 20 and the week of June 26. Lougee said he and the Tegna board will take a 25% pay cut during April, May and June.

Standard General Ups Tegna Stake To Nearly 12%

Activist investor Standard General on Friday said it has increased its stake in Tegna to 12%, a 20% increase. Standard General, which is mounting a proxy fight to get a slate of four directors added to Tegna’s board, said that it believes that it is now the largest shareholder in the broadcaster.

Tegna: Standard General Stock Sales ‘Troubling’

Tegna branded the sale of 5 million shares in the broadcaster by activist investor Standard General as something that should be “troubling” to stockholders being asked to put Standard General nominees on the Tegna board.

Tegna Bidders Drop Out Following Coronavirus

The TV group says two of the four unsolicited acquisition proposals have been withdrawn in the wake of the coronavirus pandemic and the other two parties have not signed confidentiality agreements to enable due diligence and have not delivered any information on financing sources.

Tegna Names New Treasurer And Head Of Investor Relations

Tegna Inc. today announced that assistant treasurer Cherbury Chesser has been promoted to vice president and treasurer, and that Doug Kuckelman, senior director of corporate development, has been named head of investor relations. Both appointments are effective immediately. Cherbury Chesser joined Tegna in May 2013 as director of corporate finance, and has been assistant treasurer […]

Analyst Janedis Leaves Tegna For Wolfe Research

Former analyst John Janedis is returning to Wall Street as managing director and head of the media team at Wolfe Research after 15 months at Tegna. Janedis had been a top-ranked analyst at UBS and Wells Fargo before joining Tegna as senior VP, capital markets and investor relations at Tegna.

Najafi, Trinity Broadcasting Make Bid For Tegna

The Najafi Companies and Trinity Broadcasting Network have joined the other companies attempting to acquire Tegna Inc. The two companies’ joint offer is $20 per share for the U.S. broadcast, digital media and marketing services of Tegna. The Najafi Companies is a private global investment firm, while TBN is a faith-and-family broadcaster that says it reaches more than 175 nations.

Gray Withdraws Tegna Offer Amid Virus Rout

Gray Television has withdrawn its offer to acquire larger peer Tegna because of concerns about the impact of the coronavirus outbreak on U.S. regional TV station operators, people familiar with the matter said. Gray had offered to buy Tegna for about $8.5 billion, including debt, Reuters reported earlier this month. After Gray’s stock tumbled on the news and concerns about the coronavirus pandemic’s financial impact became widespread, the Atlanta-based company decided this was not the time to pursue the transformative acquisition, one of the sources said.

Tegna Suitors Will Have To Spin Off Stations

The race to acquire TV station owner Tegna Inc. hinges not just on the price suitors are willing to pay, but also on how much they may give up in terms of assets to win regulatory approval, people familiar with the matter said. All three bidders own TV stations that regulators would require to be divested because of the potential overlap, the sources added.

Big Tegna Stockholder Heads To Proxy Fight

A large shareholder of broadcaster Tegna, fund managers Standard General, has proposed an alternative slate of five new directors to counter what it calls “a continuing pattern of passivity” in financial performance, and to ensure the board considers multiple acquisitions offers.