TEGNA

TEGNA Inc. Announces $300 Million Accelerated Share Repurchase Agreement and Increases Regular Quarterly Dividend by 20% Following Termination of Merger Agreement with Standard General

Retrieved on: 
Monday, May 22, 2023
Entertainment, Communications, Other Entertainment, General Entertainment, Other Communications, Media, Lougee Basabas, Share repurchase, Culture, TGNA, TEGNA, JPMorgan Chase, Standard General, Standard, IA Financial Group, Chase Bank, Adjustment, ASR, Hand, News, NYSE, Cryptocurrency

TEGNA Inc. (NYSE: TGNA) today announced a $300 million accelerated share repurchase (“ASR”) program and a 20 percent increase in its quarterly dividend.

Key Points: 
  • TEGNA Inc. (NYSE: TGNA) today announced a $300 million accelerated share repurchase (“ASR”) program and a 20 percent increase in its quarterly dividend.
  • These initial actions to return excess capital to shareholders follow the termination of TEGNA’s merger agreement with an affiliate of Standard General L.P.
  • Under the terms of the merger agreement, TEGNA is entitled to receive a termination fee of $136 million from Standard General.
  • The TEGNA Board has approved a 20 percent increase to the Company’s regular quarterly dividend from 9.5 to 11.375 cents per share.

Madhive Hires Former Google and Pinterest Executive Jon Kaplan As Chief Revenue Officer To Accelerate TV Ad Infrastructure Growth

Retrieved on: 
Wednesday, May 24, 2023
DTC, Advertising, Financial services, Kaplan, TEGNA, DoubleClick, Engineering, Growth, KPI-driven code analysis

NEW YORK, May 24, 2023 /PRNewswire-PRWeb/ -- Madhive, the leading technology company engineered for modern TV advertising, announced today that Jon Kaplan has joined the company as Chief Revenue Officer. In this new position, Kaplan is responsible for accelerating the adoption of Madhive's full-stack TV enterprise software, empowering TV buyers to capitalize on the streaming era with a programmatic solution.

Key Points: 
  • NEW YORK, May 24, 2023 /PRNewswire-PRWeb/ -- Madhive , the leading technology company engineered for modern TV advertising, announced today that Jon Kaplan has joined the company as Chief Revenue Officer.
  • Prior to joining Madhive, Jon served as CRO at FalconX and, before that, was the CRO of Pinterest, where he grew revenue from $125 million to nearly $3 billion.
  • "I see a lot of similarities between Madhive and my time at Google," said Kaplan.
  • Jon's experience in leading and scaling go-to-market teams will further accelerate client and Madhive growth."

Standard General Provides a Response to FCC’s Invitation to Negotiation with New Disclosures and Commitments

Retrieved on: 
Wednesday, May 17, 2023
Professional Services, White House, Federal Government, Public Policy, Government, Entertainment, TV and Radio, Legal, Finance, HSR, Comcast, Newsroom, Justice, FCC, Urban Administrative and Law Enforcement Bureau, NewsGuild-CWA, Commission, IATSE, 2017–2018 Department of Justice metadata seizures, DOJ, TEGNA, Hope, ALJ, FDNY, Standard General, History, Standard, Apollo, UnidosUS, Asian Americans, Benevolent and Protective Order of Elks, NCTA, National Action Network, CMG, MOU, Trade, News, National Urban League, Internet service provider, Property management, Television

Standard General has also made additional commitments and submissions that further highlight the public interest benefits of this transaction.

Key Points: 
  • Standard General has also made additional commitments and submissions that further highlight the public interest benefits of this transaction.
  • Standard General looks forward to speaking with the FCC on these two remaining issues tomorrow.
  • Union MOU – Standard General has signed an MOU with IATSE, which includes job commitments, the implementation of a local journalism grant fund, and neutrality agreements.
  • Standard General is pleased to discuss these commitments in more detail with the FCC.

Matrix Solutions Announces the 6th Annual Media Ad Sales Summit

Retrieved on: 
Tuesday, May 16, 2023
Advertising, MASC, Conrad Hotels, TEGNA, Nexstar, U.S.–Afghanistan Strategic Partnership Agreement, Friction, Local, Hearst Television, Gray Television, Matrix, Growth, Ecosystem, SVP, Summit, Automation, Music

PITTSBURGH, Pa.,  May 16, 2023 /PRNewswire-PRWeb/ -- Matrix, the developers of the only global ad sales platform built for media, announces the dates and location for the 6th annual Media Ad Sales Summit. The event, produced by Matrix, will be returning this November 8-10, 2023, at the beachfront Conrad Hotel in Fort Lauderdale, FL.

Key Points: 
  • Returning to the Conrad Hotel in Fort Lauderdale, November 8-10, 2023
    PITTSBURGH, Pa., May 16, 2023 /PRNewswire-PRWeb/ -- Matrix , the developers of the only global ad sales platform built for media, announces the dates and location for the 6th annual Media Ad Sales Summit .
  • High level topics to be discussed will include:
    A highly anticipated session will be led by members of the Media Ad Sales Council (MASC), an advocacy group founded by Matrix.
  • "The Media Ad Sales Summit is a niche event that has compounded in growth through the years, playing a significant role in bringing the industry together to discuss and advance the often-underserved areas of the advertising ecosystem, ad-sales and ad-tech," shared Mark Gorman, CEO, Matrix Solutions.
  • The Media Ad Sales Summit registration is now open.

NEW: Standard General Files FCC Meeting Summary Following May 10 Meetings Regarding TEGNA Deal

Retrieved on: 
Friday, May 12, 2023
Finance, Professional Services, White House, Federal Government, Public Policy, Government, Uncertainty, Federal Communications Commission, FCC, File, NewsGuild-CWA, Jesus, TEGNA, Woman, FDNY, Standard General, Attention, Standard, UnidosUS, Asian Americans, Acquisition, National Action Network, Administrative law, News, United and uniting churches, National Urban League, Nathan Simington, Television

All four FCC Commissioners were invited to meet with the applicants and deal opponents to ask questions of both Standard General and TEGNA in order to find a path forward from the Commission’s unprecedented inaction on the deal.

Key Points: 
  • All four FCC Commissioners were invited to meet with the applicants and deal opponents to ask questions of both Standard General and TEGNA in order to find a path forward from the Commission’s unprecedented inaction on the deal.
  • Meeting attendees, including experts in broadcasting, financing, administrative process, and broadcast regulation, highlighted Standard General’s “extraordinary” commitments to expanding news and preserving TEGNA jobs.
  • In the filing, Standard General again offered an open meeting to Chairwoman Jessica Rosenworcel and Commissioner Geoffrey Starks.
  • Financing for the Standard General - TEGNA deal will expire on May 22.

Standard General Releases Statement Following Today’s Meetings at the FCC

Retrieved on: 
Thursday, May 11, 2023
Professional Services, White House, Federal Government, Public Policy, Government, Entertainment, TV and Radio, Finance, Federal Communications Commission, FCC, NewsGuild-CWA, Feedback, Jesus, IATSE, TEGNA, FDNY, Standard General, Commissioner, UnidosUS, Asian Americans, IA Financial Group, National Action Network, UNITE, United and uniting churches, National Urban League, Internet service provider

Today, Standard General L.P. and TEGNA Inc. joined Federal Communications Commission (FCC) officials and staff, as well as representatives of The NewsGuild/NABET-CWA and the United Church of Christ Office Communication, Inc. for meetings regarding the proposed deal between Standard General and TEGNA.

Key Points: 
  • Today, Standard General L.P. and TEGNA Inc. joined Federal Communications Commission (FCC) officials and staff, as well as representatives of The NewsGuild/NABET-CWA and the United Church of Christ Office Communication, Inc. for meetings regarding the proposed deal between Standard General and TEGNA.
  • Commissioner Starks declined and as of the time of today’s meetings, Chairwoman Rosenworcel had not responded to the requests.
  • All FCC Commissioners and nominal parties to the proceeding were invited to join the meetings to discuss a path forward from the unprecedented inaction by the FCC.
  • Support for Standard General and TEGNA’s efforts to secure a vote is rising.

TEGNA Inc. Reports First Quarter 2023 Results

Retrieved on: 
Wednesday, May 10, 2023
Advertising, Entertainment, Communications, Social Media, TV and Radio, General Entertainment, Mobile Entertainment, KING, Annenberg Public Policy Center, Share repurchase, Amazon Fire TV, AMS, TGNA, CTV, OTT, GAAP, CBS, Standard, NBC, Winter Olympic Games, Press release, NYSE, Winter, Guantanamo detainees' appeals in Washington, D.C. courts, Television, Standard General, Grey, United States Court of Appeals for the Armed Forces, Alfred I. duPont–Columbia University Award, Growth, Woman, Total, Legislation, Bowl game, Tripura Merger Agreement, Olympic Games, Fox, USC, HDO, Mergers and acquisitions, IA Financial Group, Gracie Awards, WBNS, Adjustment, Partnership, FCC, Webby Awards, TEGNA, Marketing, Fire, Roku, Cryptocurrency, Video game, Bank, Payment card, Mobile phone, Appeal, Dish, Super Bowl

TEGNA Inc. (NYSE: TGNA) today announced financial results for the first quarter ended March 31, 2023.

Key Points: 
  • TEGNA Inc. (NYSE: TGNA) today announced financial results for the first quarter ended March 31, 2023.
  • Automotive advertising revenue continued to show strong year-over-year growth for the third consecutive quarter adjusting for Winter Olympics and Super Bowl.
  • TEGNA achieved net income of $104 million on a GAAP basis, or $107 million on a non-GAAP basis.
  • First quarter Adjusted EBITDA was down 11 percent compared to the first quarter of 2021 reflecting lower high-margin advertising revenues from political and CBS Super Bowl.

TEGNA Station KARE Honored with Peabody Award

Retrieved on: 
Tuesday, May 9, 2023
Public Policy, Government, Law Enforcement, Emergency Services, Entertainment, Mental Health, Health, Other Entertainment, TV and Radio, EVP, KARE, Crime, TGNA, TEGNA, Peabody Awards, IA Financial Group, News, NYSE, Pharmaceutical industry

TEGNA Inc. (NYSE: TGNA) today announced that KARE in Minneapolis has received a Peabody Award, which honor the most compelling and empowering stories released in broadcasting and streaming media during 2022.

Key Points: 
  • TEGNA Inc. (NYSE: TGNA) today announced that KARE in Minneapolis has received a Peabody Award, which honor the most compelling and empowering stories released in broadcasting and streaming media during 2022.
  • KARE was honored in the News category for KARE 11 Investigates – The Gap: Failure to Treat, Failure to Protect , a year-long series and primetime special.
  • “Investigative journalism is a critical tool for shining a light on injustice,” said Lynn Beall, EVP and COO, media operations, TEGNA.
  • “This achievement underscores KARE’s and TEGNA’s commitment to impactful local journalism and we are grateful and humbled by this recognition.”

ICYMI: CNBC and Washington Post Cover FCC’s Refusal to Vote on the Standard General-TEGNA Deal

Retrieved on: 
Tuesday, May 9, 2023
Finance, Professional Services, White House, Federal Government, Public Policy, Government, Interview, FCC, Congressional Black Caucus, Federal Communications Commission, TEGNA, Standard General, Standard, UnidosUS, Last Call, CNBC, Asian Americans, Axios, Acquisition, National Action Network, MOU, News, National Urban League, Cryptocurrency

In case you missed it, last night CNBC reported on the Federal Communications Commission’s (FCC) refusal to hold a vote on the pending deal between Standard General and TEGNA , which will die on May 22nd without a vote from the FCC.

Key Points: 
  • In case you missed it, last night CNBC reported on the Federal Communications Commission’s (FCC) refusal to hold a vote on the pending deal between Standard General and TEGNA , which will die on May 22nd without a vote from the FCC.
  • In her coverage, she highlighted how opponents of the deal even argue that the deal doesn’t advance minority media ownership, despite Standard General being led by Korean-American Soo Kim and Standard Media’s CEO being a woman, Deb McDermott.
  • “What we ask for is to be treated like every other applicant,” Standard General’s Soo Kim said in an interview.
  • The signers of the MOU include Asian Americans Advancing Justice, National Action Network, National Urban League, and UnidosUS.

Standard General Announces New Momentum for FCC Vote on Its TEGNA Deal as Leading Civil Rights Groups Sign Agreement Formalizing Shared Diversity Goals

Retrieved on: 
Monday, May 8, 2023
Professional Services, Entertainment, General Entertainment, TV and Radio, Finance, Asset Management, Federal Communications Commission, Senate, FCC, Congressional Black Caucus, Firefighter, Senior advisor, TEGNA, Media, Woman, Standard General, Theatre, History, Federal, Standard, Commissioner, Organization, International Alliance of Theatrical Stage Employees, Acquisition, MOU, UNITE, Federation, Letter, News, Drug

Today, Standard General L.P. announced new momentum for its deal to acquire TEGNA which would create the largest minority-owned TV broadcasting company in U.S. history.

Key Points: 
  • Today, Standard General L.P. announced new momentum for its deal to acquire TEGNA which would create the largest minority-owned TV broadcasting company in U.S. history.
  • First, Standard General and a coalition of leading civil rights organizations announced the signing of a new memorandum of understanding (MOU) to further strengthen Standard General’s commitments to diversity and inclusion for its pending acquisition of TEGNA.
  • We are asking that the FCC think about the number of reasons the labor and civil rights communities have aligned provided testimony on why this deal is crucial.
  • However, public pressure continues to build on the FCC to hold a vote.