Tegna Inc Stock Price, News & Analysis

On March 18, 2021, Standard General, TEGNA Inc.'s largest shareholder, called for a full investigation into a racially insensitive incident involving TEGNA CEO Dave Lougee and Adonis Hoffman. Standard General criticized TEGNA's Board for a brief review that lacked thoroughness, asserting it failed to interview Hoffman or address his serious allegations. They expressed concerns over potential racial bias in TEGNA's management and demanded transparency, urging the Board to stop spreading false narratives regarding Standard General's involvement in the situation.

TEGNA reported strong financial results for Q4 and full-year 2020, with total revenue of $938 million for Q4, a 35% increase year-over-year. Political advertising hit a record $264 million, driving a 89% increase from Q4 2018. Subscription revenue reached $314 million, up 9%, while AMS revenues declined 6%. Net income surged to $244 million, almost tripling from Q4 2019. Notably, full-year revenue was $2.9 billion, a 28% yearly growth, propelled by political ads and subscriptions. TEGNA renewed its $300 million share repurchase program, reflecting financial confidence.

TEGNA Inc. (NYSE: TGNA) is set to launch a new multicast network, Twist, this spring, focusing on lifestyle and reality programming for women. The network aims to provide hundreds of hours of content, including popular shows like Clean House and Queer Eye for the Straight Guy. Twist will be available in 41 TEGNA markets and reach 70% of U.S. households, including major cities like New York and Los Angeles. This initiative follows the successful launches of TEGNA's other multicast networks, enhancing its position in the growing OTA audience market.

TEGNA Inc. (NYSE: TGNA) declared a dividend of seven cents per share, payable on April 1, 2021, to stockholders of record as of March 5, 2021. The company's president, Dave Lougee, emphasized the company's operational excellence and strong performance in a challenging market. TEGNA operates 64 television stations in 51 U.S. markets, reaching approximately 39 percent of U.S. television households. The firm remains committed to delivering value for its shareholders.

Entercom (NYSE: ETM) has announced a content agreement with Locked On Podcast Network, enhancing its position as the leader in local sports radio. This marks Entercom's fourth recent strategic move in sports audio, following partnerships with FanDuel and the acquisition of the QL Gaming Group. The collaboration will allow Locked On’s podcasts to reach Entercom’s 40 million monthly users and leverage its extensive audience of nearly 30 million sports fans. This partnership is expected to foster new content development, including several co-produced shows.

TEGNA Inc. (NYSE: TGNA) announced that its stations WFAA (Dallas) and KING 5 (Seattle) received 2021 Alfred I. duPont-Columbia University Awards for excellence in journalism. WFAA was honored for its documentary “VERIFY Road Trip: Climate Truth,” which explored climate change, while KING 5 won for “Bob’s Choice,” chronicling a terminally ill cancer patient’s decision to utilize Washington’s Death with Dignity Act. These awards highlight the impactful role of local journalism in addressing critical societal issues.

TEGNA Inc. (NYSE: TGNA) appointed Bill Dallman as president and general manager of KARE 11, effective June 1, 2021. Dallman replaces John Remes and previously served as news director at KOMO News in Seattle. His extensive experience includes leadership roles at KCBS-KCAL in Los Angeles and KMSP in Minneapolis-St. Paul. Dallman is a native Minnesotan with over 25 years in media, holding a degree from the University of Wisconsin-Madison. TEGNA operates 64 television stations across 51 U.S. markets, serving approximately 39% of TV households nationwide.

Cadent has expanded its agreement with Premion, enhancing its advanced TV platform's capabilities. This partnership will utilize Cadent's Viewer Graph, a cookieless audience matching technology, to support cross-screen campaigns for regional and local advertisers. The agreement allows Premion to access Cadent's extensive audience solutions, including data onboarding and analytics, enabling better targeting through a comprehensive understanding of audiences. Advertisers can leverage unique datasets and gain insights into campaign performance, enhancing their marketing strategies.

TEGNA Inc. (NYSE: TGNA) has acquired the Locked On Podcast Network, a prominent podcast network focused on local sports. This acquisition aims to enhance TEGNA's presence in the growing podcast market and expand its sports content. Locked On produces daily podcasts for every major professional league and over 30 college programs, generating 8 million listens per month. The deal's financial terms were not disclosed, but TEGNA will finance it with available cash, expecting no material impact on its 2021 financials.