Tegna Inc Stock Price, News & Analysis

TEGNA Inc. (NYSE: TGNA) reported record first-quarter financial results for the period ended March 31, 2022, with total revenue of $774 million, a 6% increase year-over-year. Subscription revenue reached $392 million, up 1%, while advertising and marketing services revenue hit $354 million, growing 10%. Net income stood at $134 million, and Adjusted EBITDA was a record $250 million, up 8%. The company is on track to finalize its acquisition by Standard General in the second half of 2022, pending approvals. Free cash flow reached $182 million, and TEGNA reduced its outstanding borrowings.

TEGNA Inc. (NYSE: TGNA) is launching new OTT streaming apps and 24/7 streaming channels across its 64 stations in 51 markets, starting with 11Alive+ in Atlanta and WTHR13+ in Indianapolis. These apps, designed for Roku and Fire TV, will provide a local twenty-four-hour “Watch” stream featuring live news, weather, and local sports content. With over 100 million streaming minutes monthly, TEGNA aims to enhance digital viewership and engagement, leveraging its OTT advertising platform, Premion, to boost revenue. The launch reflects TEGNA's commitment to delivering accessible local content.

TEGNA Inc. (NYSE: TGNA) has declared a regular quarterly dividend of 9.5 cents per share, which will be payable on July 1, 2022. Stockholders must be on record by close of business on June 3, 2022. TEGNA operates 64 television stations across 51 U.S. markets, reaching approximately 39% of television households nationwide. The company emphasizes innovative marketing solutions and community service while also facing potential risks related to an upcoming transaction with Standard General L.P. that could impact future operations.

TEGNA Inc. (NYSE: TGNA) announced that its stations KHOU in Houston, WKYC in Cleveland, and KSDK in St. Louis have won four Gracie Awards from the Alliance for Women in Media Foundation. Notable achievements include KHOU's win for the Documentary award for 'Juneteenth: 1865-2021' and WKYC's Hard News Feature award for 'The Power of Healing: Address the Mess.' The awards celebrate impactful storytelling by women in media. Annie Yu from WUSA also received an honorable mention. TEGNA emphasizes its commitment to impactful journalism.

TEGNA Inc. (NYSE: TGNA) announced the appointment of Mark Manders as president and general manager of WGRZ, its NBC affiliate in Buffalo, NY, effective April 4. Manders, who has served as the station's director of sales for 16 years, will oversee operations, emphasizing community service and advertising results. He succeeds Jim Toellner, who is retiring. Manders has a notable background in media and marketing, focused on connecting consumers with businesses in Western New York.

TEGNA Inc. (NYSE: TGNA) has appointed Humberto Hormaza as the new president and general manager of WTIC-WCCT, effective March 7. Hormaza brings extensive experience from Entravision Communications, where he launched successful news and radio initiatives. He is expected to enhance community service and drive advertising results at the Hartford-based stations. Larry Delia, SVP of media operations, expressed confidence in Hormaza's leadership for the station's future success.

TEGNA has announced its acquisition by Standard General for $24.00 per share, pending shareholder and regulatory approvals. In 2021, TEGNA achieved record revenues of $3.0 billion, with subscription revenue up 14% to $1.5 billion, and AMS revenue rising 22% to $1.4 billion. Despite a 17% decline in Q4 total revenue to $775 million, the company reported strong performance in AMS and subscription segments. TEGNA's net income for Q4 was $129 million, and full-year Adjusted EBITDA reached $948 million. The acquisition is expected to close in the second half of 2022, transitioning TEGNA to a private entity.

TEGNA (NYSE: TGNA) announced a regular quarterly dividend of 9.5 cents per share, with a payment date set for April 1, 2022. This will be available to stockholders on record as of March 4, 2022. Additionally, TEGNA and Standard General L.P. confirmed a definitive agreement for TEGNA's acquisition at $24.00 per share in cash, expected to close in the second half of 2022. TEGNA will continue its regular quarterly dividend through this transaction.

TEGNA (NYSE: TGNA) has entered into a definitive agreement for its acquisition by an affiliate of Standard General at $24.00 per share, valuing the transaction at approximately $5.4 billion. This represents a 39% premium over TEGNA’s share price prior to acquisition speculation. The deal aims to maximize shareholder value and will transition TEGNA into a private company, enhancing its capacity to adapt to the evolving media landscape. The transaction is expected to close in the second half of 2022, pending regulatory and shareholder approvals.