|Founded||June 29, 2015|
|Howard D. Elias|
(President and Chief Executive Officer)
|Revenue||$2.2 billion USD (2018)|
|$698.4 million USD (2018)|
|$405 million USD (2018)|
Number of employees
Tegna Inc. (stylized as TEGNA) is an American publicly traded broadcast, digital media and marketing services company headquartered in Tysons, Virginia. It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies. Tegna comprised the more profitable broadcast television and digital media divisions of the old Gannett, while Gannett's publishing interests were spun off as a "new" company that retained the Gannett name. Tegna owns or operates 47 television stations in 39 markets, is the largest group owner of stations affiliated with NBC and CBS, the fourth-largest group owner of stations affiliated with ABC (after Sinclair Broadcast Group, E. W. Scripps Company, and Hearst Television), and holds properties in digital media.
In June 2015, Gannett split into two independent publicly traded companies, one focusing on its newspapers and publishing, which would retain the Gannett name, and one on broadcasting. Robert Dickey - who led Gannett's newspaper group - would serve as CEO of the former company, leaving the remaining broadcasting and digital operations under the leadership of Gracia Martore. In a statement, she explained that the split plans were "significant next steps in our ongoing initiatives to increase shareholder value by building scale, increasing cash flow, sharpening management focus, and strengthening all of our businesses to compete effectively in today's increasingly digital landscape." Additionally, the company announced that it would buy out the remainder of Classified Ventures (a joint venture between Tegna and several other media companies) for $1.8 billion, giving it full ownership of properties such as Cars.com.
As part of the separation, the company announced that the broadcasting and digital company would be named Tegna--a partial anagram of "Gannett". The spin-out was structured so that "old" Gannett changed its name to Tegna, Inc., then spun off its newspaper holdings into a "new" Gannett. The split was completed on June 29, 2015. Tegna retained "old" Gannett's stock price history, though it trades under a new ticker symbol, TGNA. The "new" Gannett inherited old Gannett's longtime ticker symbol, GCI. The two companies, however, continued to share a headquarters complex.
Tegna also retained G/O Digital, a digital marketing services brand that it launched in August 2013, and the 20 broadcast stations it acquired from Belo Corporation in December 2013 and the six stations it acquired from London Broadcasting Company in July 2014.
In September 2016, Tegna announced plans to spin off Cars.com to create two independent publicly traded companies. Tegna shareholders approved an initial public offering of Cars.com as a publicly traded spin-off in May 2017. Shortly after, Tegna completed the spin-off of Cars.com, which now trades under a new ticker symbol, CARS. Upon the completion of the spin-off, Dave Lougee, president of Tegna Media, was named president and CEO of Tegna and joined the company's Board of Directors. Gracia Martore, president and CEO of Tegna, retired and stepped down from the Board.
Prior to the company's completion of the spin-off of Cars.com, it was reported by DealReporter that Nexstar Media Group may be considering a bid to acquire Tegna. In June 2017, Tegna announced it had entered into a definitive agreement, together with the other owners of CareerBuilder, to sell CareerBuilder to an investor group led by investments funds managed by affiliates of Apollo Global Management and the Ontario Teachers' Pension Plan Board.
Tegna and Cooper Media, parent corporation of the Justice Network, announced on November 7, 2017, a new multicast network, Quest. Tegna would be the charter station group as such would receive a minority stake in the network, which launched in January 2018. The range of programming on the network would be engineering and science, human achievements, military history and natural history.
In March 2019, Tegna announced its formation of VAULT Studios, its first, in-house digital content studio. The studios first content would be true crime podcasts drawing on its station news content.
On March 20, 2019, Tegna entered an agreement with Nexstar Media Group to acquire eleven stations for $740 million in a move to reduce Nexstar's national ownership reach under the federally imposed 39% cap and alleviate ownership conflicts with existing Nexstar properties once it completes a merger with Tribune Media. Included are stations in the political battleground states of Iowa (WOI-DT-KCWI-DT in Des Moines and WQAD-TV, based in Moline, Illinois but also serving neighboring Davenport) and Pennsylvania (WPMT/Harrisburg and WNEP-TV/Scranton-Wilkes-Barre). Other Nexstar/Tribune stations going to Tegna are WZDX/Huntsville, KFSM-TV/Fort Smith-Fayetteville, WTIC-TV-WCCT-TV/Hartford, and WATN-TV-WLMT/Memphis.
On May 6, 2019, it was reported that Tegna was going to acquire the 85% of the Justice Network and Quest from Cooper Media that it did not own already for $77 Million to close by the end of the second quarter. Cooper Media's president and general manager Brian Weiss transferred to Tegna and continue managing the two networks.
On June 11, 2019, it was reported Tegna Inc. purchased the Dispatch Broadcast Group's television and radio assets, subject to regulatory approval, for $535 million. The purchase includes the WBNS television (CBS-affiliate WBNS-TV) and radio (WBNS (AM) and WBNS-FM) stations in Columbus, the Ohio News Network, and NBC-affiliate WTHR television in Indianapolis.
Tegna owns or operates 47 television stations located in 39 markets (including seven duopolies); it also owns two radio stations. 18 of the company's stations are affiliated with NBC (including a semi-satellite of KCEN-TV and a digital subchannel of KBMT), eleven are affiliated with CBS, nine are affiliated with ABC, and three are affiliated with Fox. In addition, the company owns three CW affiliates, three MyNetworkTV affiliates and one independent station. It also provides operational services to a fourth MyNetworkTV affiliate, KTTU in Tucson, through shared services agreements with Tucker Operating Co.
On December 18, 2017, Tegna announced it would acquire KFMB-AM-FM-TV in San Diego from Midwest Television, Inc. for $325 million, pending approval from the Federal Communications Commission. The acquisition was completed on February 15, 2018.
On August 20, 2018, Tegna agreed to purchase two stations spun off from the Gray Television-Raycom Media merger, CBS affiliate WTOL-TV in Toledo (the sale likely includes rights to an existing shared services agreement with American Spirit Media-owned Fox affiliate WUPW) and NBC affiliate KWES-TV in Odessa in order to alleviate ownership conflicts involving Gray's ownership of ABC affiliate WTVG in the Toledo market and CBS affiliate KOSA-TV in the Odessa market.
Stations are listed alphabetically by state and city of license.
Notes of prior ownership or current shared services agreement:
|AM Station||FM Station|
In 2015, Tegna Media test-ran a limited-run informative talk show hosted by Dallas-based bishop T. D. Jakes on its owned stations in Dallas, Atlanta, Minneapolis and Cleveland. The show, titled T.D. Jakes, was co-produced by Debmar-Mercury, Tegna Media, 44 Blue Productions, Jakes' own production company, TDJ Enterprises and EnLight Productions and lasted from August 17 through September 11.
On December 9, Tegna greenlit the series for an entire run for the 2016-2017 broadcast season. The series debuted on September 12 on most, if not all Tegna-owned stations, as well as several large markets, including Baltimore (WMAR-TV), Detroit (WMYD), Orlando (WFTV/WRDQ), Chicago (WCIU-TV), San Antonio (KSAT-TV), and San Diego (KGTV). Debmar-Mercury, however is not participating in the production run, being replaced by independent company Flow Media Partners.
T.D. Jakes has ended in September 2017 and was replaced with news and entertainment show Daily Blast Live.
Gannett Company spun-off most of its internet media properties to Tegna. When the total internet media division was part of the Gannett Company, it managed the websites for USA Today, as well as Gannett's newspaper and broadcast properties throughout the United States. It owns:
Stations are arranged in alphabetical order by state and city of license. The list includes stations owned by Tegna, Inc. during its former existence as the Gannett Company subsidiary Gannett Broadcasting, Inc.
These cable networks were owned by Belo prior to acquisition by Gannett/Tegna.
|Availability||Station, Channel No.||Acquired by Gannett/Tegna||Notes/Fate|
|Dallas, Houston, San Antonio, Austin, Corpus Christi, Laredo, Texarkana, Port Arthur/Beaumont, Waco, El Paso, Wichita Falls, Rio Grande Valley||TXCN (Texas Cable News), Channel Numbers Vary||2013||Composed of news teams from: WFAA, Dallas; KHOU, Houston; KENS, San Antonio; KVUE, Austin. Defunct as of May 1, 2015.|
|Seattle, Portland, Spokane & Boise||NWCN (Northwest Cable News), Channel Numbers Vary||2013||Composed of news teams from: KING-TV & KONG, Seattle; KGW, Portland; KREM & KSKN, Spokane; KTVB, Boise. Defunct as of January 6, 2017.|
(a partial listing)
|AM Station||FM Station|