Tegna Inc Stock Price, News & Analysis

TEGNA (NYSE: TGNA) has appointed Dhanusha Sivajee as senior vice president and chief experience officer, effective immediately. Reporting to CEO Mike Steib, Sivajee will oversee the end-to-end journey of local community members across TEGNA's portfolio, reaching approximately 100 million people monthly. She will manage research, communications, brand, performance and lifecycle marketing, and consumer digital product development. Sivajee joins from Angi, Inc., where she served as CMO, and brings extensive experience from previous roles at The Knot Worldwide, AOL Brand Group, Bloomberg Media, and HBO.

TEGNA (TGNA) reported strong Q3 2024 results with total revenue increasing 13% to $807 million, driven by record political advertising of $126 million and positive growth in advertising and marketing services. Subscription revenue decreased 6% to $356 million due to subscriber declines. The company achieved $270 million in Adjusted EBITDA, up 62%. GAAP earnings per share reached $0.89, while non-GAAP EPS was $0.94. TEGNA returned over $90 million to shareholders through share repurchases and dividends, maintaining its commitment to return approximately $350 million in 2024.

TEGNA has announced a new multi-year agreement with FuboTV, the sports-first live TV streaming platform. The deal enables Fubo subscribers to access live telecasts from KFAA in Dallas, with KONG in Seattle and KTVD in Denver launching soon. KFAA will broadcast 70+ Dallas Mavericks games, KONG will air 70+ Seattle Kraken games, and KTVD will broadcast 20 Denver Nuggets games and 20 Colorado Avalanche games.

TEGNA has appointed Carolyn Mungo as president and general manager at WFAA-KFAA, its ABC affiliate serving Dallas-Ft. Worth. Mungo, who previously served as vice president and station manager since 2019, will oversee station operations across all platforms, community outreach, and advertising results. Under her leadership, WFAA has earned numerous prestigious awards, including ten National Edward R. Murrow awards and their first Overall Excellence award in 2023. She brings extensive experience in journalism and leadership, having previously served as executive news director and led coverage of major national stories.

TEGNA Inc. (NYSE: TGNA) has appointed Alex Tolston as senior vice president and chief legal officer, effective immediately. Tolston will lead the company's legal department and serve on the leadership team, reporting to CEO Mike Steib. His responsibilities include overseeing legal functions across corporate governance, content creation and distribution, regulatory matters, ethics and compliance, M&A, capital markets, and litigation.

Previously, Tolston was executive vice president, chief legal officer, and corporate secretary at Hemisphere Media Group, where he executed growth strategies and managed complex transactions. His experience includes acquisitions, joint ventures, and intellectual property strategy. Tolston holds a B.A. from Tulane University and a J.D. from New York Law School, and has prior experience at Paul, Weiss, Rifkind, Wharton & Garrison LLP and Bear, Stearns & Co., Inc.

TEGNA Inc. and the Dallas Mavericks have expanded their broadcast distribution for the upcoming NBA season. Eight additional stations will join six owned by TEGNA to broadcast Mavericks games not exclusively televised nationally, reaching approximately 14 million people in Texas. Starting October 26, these stations will air 70 or more games in the first season for free over-the-air.

The expansion includes stations in Amarillo, El Paso, Harlingen-Brownsville, Laredo, Lubbock, Sherman, Shreveport & Texarkana, and Wichita Falls & Lawton. This partnership involves stations from Gray, Nexstar, and Sinclair. TEGNA's newly rebranded KFAA Dallas-Ft. Worth (Ch. 29) will broadcast all non-exclusive national games, with 15 or more simulcast on WFAA (Ch. 8).

Kroenke Sports & Entertainment (KSE) has announced a broadcast rights agreement with TEGNA for 20 Denver Nuggets and 20 Colorado Avalanche games to be shown for free over-the-air on Denver's 9NEWS and My20. A new subscription-based platform, Altitude+, will launch in October, offering Nuggets and Avalanche games not exclusive to national networks for $19.95 per month.

The Altitude Sports network will continue to carry local games for subscribers of DIRECTV, DIRECTV STREAM, Fubo, and Spectrum TV. The broadcast agreement with TEGNA will enable nearly 3.5 million people in the Denver metro area to access games over-the-air. Altitude+ will also be available as a TV Everywhere service at no additional cost for customers who currently subscribe to a TV package that includes Altitude Sports.

TEGNA Inc. (NYSE: TGNA) has announced that Lynn Beall, executive vice president and chief operating officer of media operations, will depart the company in mid-2025 after a significant transition period. Beall, who joined TEGNA in 1988, has held her current position since 2017, overseeing 64 stations, news and content strategy, revenue growth, and network relationships. She is also vice chair of the National Association of Broadcasters Television Board and serves on the CBS Television Affiliates Association Board's executive committee.

CEO Mike Steib praised Beall's leadership and contributions to TEGNA's growth from 12 stations in 1988 to 64 today. During the transition period, Beall will work with the TEGNA team to maximize opportunities in audience engagement and customer service.

TEGNA Inc. (NYSE: TGNA) has announced it will host a conference call to discuss its third quarter 2024 earnings results on Thursday, November 7, 2024, at 9 a.m. (ET). The call will be webcast through the company's website and is open to investors, the financial community, media, and the public. Phone participants must register in advance to receive dial-in numbers and a unique PIN. TEGNA's earnings announcement will be released before the market opens on November 7, with related materials available through the Investor Relations section of TEGNA's website. The webcast will be archived for future access.