[25][26] The FCC approved the sale on September 16. On February 22, 2022, TEGNA Inc. and Standard General L.P. announced that TEGNA and an affiliate of Standard General entered into a definitive agreement under which TEGNA will be acquired. The document was filed with the SEC by Standard General. Standard General The company, which will retain the Tegna name, will be controlled by an affiliate of Standard General, with Standard Media CEO Deb McDermott (who previously led Young Broadcasting and Media General) becoming CEO. 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." [11][12] Shortly after, Tegna completed the spin-off of Cars.com, which now trades under a new ticker symbol, CARS. Jakes ended in September 2017 and was replaced with news and entertainment show Daily Blast Live, which premiered on September 11, 2017. Station assigned to licensee Pacific and Southern Company, Inc. KVUE was previously owned by Gannett from 1986 to 1999, when it was traded to Belo in exchange for KXTV. Mr. Kim is supported by a diverse, highly experienced 17-person team, including seven investment professionals with over 120 years of collective investing experience. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. At all levels, we have been tireless in our efforts to ensure TEGNA effectively serves all of our stakeholders, and I am immensely proud of these efforts. TEGNA Inc. (NYSE:TGNA) Q3 2020 Earnings Conference Call November 9, 2020 9:00 AM ET. Included are stations WOI-DTKCWI-DT in Des Moines and WQAD-TV, based in Moline, Illinois but also serving neighboring Davenport and Pennsylvania (WPMT/Harrisburg and WNEP-TV/ScrantonWilkes-Barre). With 64 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top 25 markets among independent station groups. Local information is presented with minimally loaded wording such as this: Media Bias Fact Check offers a number of sustaining Ad-Free membership plans to fit your budget! See all Least Biased Sources. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. GAAP operating expenses were $589 million, up four percent year-over-year, and non-GAAP operating expenses were $587 million, up four percent year-over-year, with the increases predominantly driven by investments in Premions growth and programming costs. TEGNA Inc. is a proud equal opportunity employer. Our estimates are verified against BLS, Census, and current job openings data for accuracy. [37] In March 2020, Tegna stated that it had turned down two acquisition offers by Gray Television and Apollo Global Management, stating that "these two parties made their proposals shortly before the recent market dislocation due to the COVID-19 pandemic and both subsequently informed Tegna that they were ceasing discussions." Revenues increased 6.2% year over . With 63 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top . [53], T.D. VERIFY Extends Reach in 2022 Unique visitors to VERIFYThis.com, TEGNAs national fact-checking brand dedicated to combating misinformation, increased sequentially each quarter in 2022, attracting more than 12 million visitors overall. Corporate offers a lot of good benefits and seems to care about employees. Best Media Companies to Work For in Virginia, Best Media Companies to Work For in McLean, VA. Jakes' Talk Show This Summer With 44 Blue Productions, TDJ Enterprises and Enlight Productions TEGNA", "EMPOWERING NEW DAILY TALK SHOW "T.D. Vice President, Corporate Communications Posted: March 02, 2023. TEGNA Inc (TGNA) - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. Furthermore, the Leadership Development and Compensation Committee of our Board of Directors uses non-GAAP measures such as Adjusted EBITDA, non-GAAP net income, non-GAAP EPS, and free cash flow to evaluate managements performance. Company Participants. The staff at TEGNA come from unusually diverse demographic backgrounds. On February 22, 2022, TEGNA Inc. and Standard General L.P. announcedthat TEGNA and an affiliate of Standard General entered into a definitive agreement under which TEGNA will be acquired by. Free cash flow is reviewed by the Board of Directors as a percentage of revenue over a trailing two-year period (reflecting both an even and odd year reporting period given the political cyclicality of the business). As community needs differ by region, please check with your local Community Grant contact to learn what needs are being addressed in your area. Do Democrats need a past superstar to hold the White House in 2024? Exposing corruption and wrongdoing, holding elected officials and those in power accountable, giving a voice to the voiceless and telling empowering stories that impact our lives is at the heart of our purpose to serve the greater good.". in the U.S. and several other media properties. The Company undertakes no obligation to update or to revise any forward-looking statements. You can click/tap on the image to go to the full version of the chart. [28], 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. Dear Mediacom Customer, As you may be aware, Tegna has been blocking Mediacom customers from watching the local broadcast stations it owns since December 31st. Forward-looking statements are based on a number of assumptions about future events and are subject to various risks, uncertainties and other factors that may cause actual results to differ materially from the views, beliefs, projections and estimates expressed in such statements. Factual Reporting: HIGH Tegna Inc. (stylized in all caps as TEGNA) is an American publicly traded broadcast, digital media and marketing services company headquartered in Tysons Corner, Virginia. THE HILL 1625 K STREET, NW SUITE 900 WASHINGTON DC 20006 | 202-628-8500 TEL | 202-628-8503 FAX. The Company and certain of its directors, executive officers and employees may be considered to be participants in the solicitation of proxies from the Companys stockholders in connection with the proposed transaction. Free cash flow3 was $297 million for the quarter. In addition, the company owns seven CW affiliates (including three digital subchannels of KFMB-TV, KYTX, and WMAZ-TV), three Estrella TV affiliates (including two digital subchannels of KENS and KVUE), ten MyNetworkTV affiliates (including five digital subchannels of KFMB-TV, KIDY, KXVA, WQAD-TV, and WZDX), three independent stations (including two digital subchannels of KTVB and its satellite of KTFT-LD), a low-powered MeTV affiliate, and a Quest owned-and-operated station. On average, employees at TEGNA stay with the company for 5.1 years. TEGNA Inc. is a proud equal opportunity employer. This position will report directly to the Regional Head of Technology and Operations. They also responded to objections by NewsGuild-CWA describing Standard General as "backed by anonymous investors located in the Cayman Islands", stating that the entirety of its board is represented by U.S. Affiliates of AGM, as well as Cox Media Group (which is principally owned by AGM, with Cox Enterprises as a minority shareholder) and other investors, will hold non-voting shares in the company. The national average salary for a TEGNA employee in the United States is $56,684 per year. The allegations include an incident of a Tegna employee, whos now a vice president, wearing blackface while dressed as Michael Jackson at a company event in the 1980s. accusations of broad pattern of bias and racially-insensitive behavior that were shared with the media company by its largest active shareholder. As reported, our political revenues in 2020 were almost double that of 2018 and almost three times that of 2016, the prior presidential election year. For more information, visitwww.TEGNA.com. National and International news is provided by the Associated Press as well as other TEGNA TV stations. The largest donation made to a political party by a TEGNA employee was by Richard Moody. The Company is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this press release by wire service, Internet service providers or other media. Tysons, Va. and New York TEGNA Inc. (NYSE: TGNA) and Standard General L.P. today announced that TEGNA and an affiliate of Standard General have entered into a definitive agreement under which TEGNA will be acquired by the Standard General affiliate for $24.00 per share in cash. In terms of audience reach, Tegna is the largest group owner of NBC-affiliated stations, ahead of Hearst Television and Sinclair Broadcast Group, and the fourth-largest group owner of ABC affiliates, behind Hearst, the E. W. Scripps Company, and Sinclair. These non-GAAP financial measures should not be considered in isolation from, or as a substitute for, the related GAAP measures, nor should they be considered superior to the related GAAP measures, and should be read together with financial information presented on a GAAP basis. Therefore, while we may incur or recognize these types of expenses and gains in the future, the company believes that removing these items for purposes of calculating the non-GAAP financial measures provides investors with a more focused presentation of our ongoing operating performance. One of the most prominent Tegna Digital properties. Employees seem to enjoy working in an otherwise diverse workplace that is dominated by members of the Democratic Party. Here's one research-based answer to the question of liberal bias: The documentary The Myth of the Liberal Media: The Propaganda Model of News uses empirical evidence to look at ownership of the mainstream news media, filters that affect what news gets published, and examples of actual news coverage in order to show that conservative political and corporate . The reporting is factual and usually sourced. Because of this, WHEC-TV and WDAN-TV are the only television stations built from the ground-up by Gannett. Based on our research, similar companies to TEGNA are ION Media Networks, Discovery, and Univision Holdings, Inc. GAAP and non-GAAP earnings per diluted share were $0.97 and $0.98, respectively. The studio's first content would be true crime podcasts, drawing on its station news content. WZDX, the TEGNA-owned FOX affiliate in Huntsville AL, has an opening for an experienced, versatile Head of Technology and Operations. Joele Frank, Wilkinson Brimmer Katcher KPNX also has a section dedicated to politics covering national politics through the Associated Press and local Arizona politics through 12 News TV. They state. Bias Rating: LEAST BIASED (Press Release). The sale includes a clause that will slowly increase the value that Standard and Apollo will pay per-share if the sale takes longer than nine months to close. We calculated the diversity score of companies by measuring multiple factors, including the ethnic background, gender identity, and language skills of their workforce. A syndicate of banks led by RBC Capital Markets will provide debt financing. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the stockholders of the Company in connection with the proposed transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise, will be included in the proxy statement when it is filed with the SEC. [21], 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. The company discusses in this release non-GAAP financial performance measures that exclude from its reported GAAP results the impact of "special items" consisting of spectrum repacking reimbursements and other, net, M&A-related costs, advisory fees related to activism defense, certain non-operating items such as expense related to the early extinguishment of debt, a gain on an available for sale investment, and a valuation gain from an investment and an impairment charge recorded for another investment. They specifically cited statements by Standard General regarding plans for a Washington, D.C. bureau to produce content for local newscasts, and arguing that Tegna's stations had "too many employees". These achievements are a credit to the hard work of TEGNAs dedicated employees, who are the Companys most valuable asset. Andy Brimmer/Jamie Moser It operates approximately 64 television stations in over 51 United States markets and owns four network affiliates in approximately 25 markets among independent station groups, reaching approximately 39 % of all television households nationwide. "[40][41][42] In 2021, Standard General once again put forward nominees to Tegna's board of directors, alleging that the company was underperforming and had issues with diversity, equity, and inclusion; the latter came after a Black nominee put forward by Standard General withdrew, citing a previous incident involving CEO Dave Lougee in 2014. TEGNA Inc. (Tegna), and SCGI Holdings III LLC, an affiliate of Standard General L.P. (SCGI and Standard General), have filed applications to transfer control of Tegna and the licenses of 64 full-power television stations and two full-power radio stations from Tegna's current shareholders to SCGI. With 49 television stations and two radio stations in 41 markets, TEGNA delivers relevant content and information to consumers across platforms. TEGNA offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, including Premion, TEGNAs OTT advertising service. Additional Information and Where to Find It. 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. A new Securities and Exchange Commission (SEC) filing concerning Tegna includes accusations of "broad pattern of bias and racially-insensitive behavior" that were shared with the media company. This is 2021, yet the roots of racist behavior within Tegna/Gannett are ugly and run deep. Non-GAAP operating expenses less programming and Premion costs were down one percent compared to the fourth quarter of 2021. In review, 12 News KPNX reports local news primarily through TV news video and accompanying text. The 11 markets renewed cover . Auto advertising saw sequential improvement throughout the year finishing with strong growth in the fourth quarter. enrollment in college or vocational school, political affiliation, veteran . The document was filed with the SEC by Standard Generalin preparation forTegnas annual shareholders meeting scheduled for May 7. TEGNA has great employee retention with staff members usually staying with the company for 5.1 years. Users should consider the limitations of using Adjusted EBITDA, including the fact that this measure does not provide a complete measure of our operating performance. You may also find additional information about the Companys directors and executive officers in the Companys definitive proxy statement for its 2021 annual meeting of stockholders, which was filed with the SEC on March 26, 2021 and in subsequently filed Current Reports on Form 8-K, Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Anne Bentley Unsurprisingly, Tom's and Seventh Generation jump to the top of left-leaning companies. The largest donation made to a political party by a TEGNA employee was The average employee at TEGNA makes $56,684 per year. The 20 markets renewed cover 17 percent of the U.S. audience and nearly 21 . (AMS) revenues, which include local and national non-political television advertising, digital marketing services (including Premion), and advertising on stations' websites, tablet and mobile products and OTT apps; 3) political . TEGNA achieved net income of $219 million on a GAAP basis, or $221 million on a non-GAAP basis. The station needs an outstanding talent to bring viewers to the biggest sporting events in Indiana including extensive coverage of the . THE COMPANY URGES YOU TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE PROPOSED TRANSACTION AND RELATED MATTERS. [56], In January 2018, Tegna announced a partnership with Sony Pictures Television to handle syndication distribution and advertising sales for its original programs.[57]. In June 2015, Gannett spun off its broadcasting division. None of the information on this page has been provided or approved by TEGNA. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. The company also believes these non-GAAP measures are frequently used by investors, securities analysts and other interested parties in their evaluation of our business and other companies in the broadcast industry. In review, 12 News KPNX reports local news primarily through TV news video and accompanying text. After extensive research and analysis, Zippia's data science team found that: 50% of TEGNA employees are women, while 50% are men. [48] It still awaits FCC approval. Claiming and updating your company profile on Zippia is free and easy. On February 22, 2022, TEGNA Inc. and Standard General L.P. announcedthat TEGNA and an affiliate of Standard General entered into a definitive agreement under which TEGNA will be acquired by. Tegna Inc. (stylized in all caps as TEGNA) is an American publicly traded broadcast, digital media and marketing services company headquartered in Tysons Corner, Virginia. Since 2020, advertising trends have seen significant broad-based strength across all advertising categories, except auto and insurance in this two-year comparison. Tegna's digital advertising subsidiary Premion will be held as a standalone business between Standard and CMG. Overall, we rate 12 News KPNX Least Biased based on neutral wording and minimal editorial content. TEGNA also delivers innovative and unparalleled solutions for advertisers through TEGNA Marketing Solutions (TMS). With 63 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top 25 markets among independent station groups, reaching approximately 39 percent of all television households nationwide. TMS is a one-stop shop that helps businesses thrive through an unmatched suite of services and solutions that reach consumers across television, email, social and over-the-top (OTT) platforms, including Premion, TEGNA's OTT advertising service. in preparation forTegnas annual shareholders meeting scheduled for May 7. [8] The two companies, however, continued to share a headquarters complex. The "new" Gannett inherited old Gannett's longtime ticker symbol, GCI. For the former Swiss municipality, see, This article is about Tegna, formerly Gannett, as a broadcast and digital media company. We are a drug free, EEO employer committed to a diverse workforce. About TEGNA. Media Bias Chart (PDF version) Interactive Chart Centrist News ABC News Associated Press BBC News CBS News [37][46][47], The sale will also result in the realignment of station holdings presently associated with both companies: Standard Media's four stations WDKA, WLNE, KBSI, and KLKN will be sold to Cox Media Group, which will then divest its Boston station WFXT to an affiliate of Standard General, and acquire WFAA/KMPX, KHOU/KTBU, and KVUE, from Tegna.[37][46][47]. . On. [24], On March 20, 2019, Tegna entered an agreement with Nexstar Media Group to acquire eleven stations for $740 million in order 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. One of the most dominant and far-reaching media companies in U.S. history just got even bigger, and there's a chance it could affect the way huge swaths of people get news but there's a good. to be nominated as a board member for Tegna, citing an incident where CEO Dave Lougee assumed he was a hotel valet, and also potential conflicts of interest. [38], Kim began to engage in a proxy fight, with Standard General proposing four nominations to Tegna's board of directors at its next shareholders' meeting in April. The filing comes against the backdrop of a proxy battle between Tegna and Standard General, a hedge fund that owns a 7 percent stake in Tegna, according to a separate SEC filing. The transaction consideration represents a premium of approximately 39% to TEGNAs unaffected closing share price on September 14, 2021, the last full trading day prior to media speculation about a potential sale of TEGNA, and a premium of approximately 11% to TEGNAs all-time high closing price since separation from the Gannett publishing business in 2015. TEGNA also owns leading multicast networks True Crime Network, Twist and Quest. Investors also will be able to obtain a free copy of the proxy statement and other documents (when available) filed by the Company with the SEC by accessing the Investors section of the Companys website at http://tegna.com. Owned by Sander Media from 2013 to 2015 and operated by Gannett/Tegna prior to its acquisition by Tegna Inc. in 2015. Ms. McDermott currently serves as CEO of Standard Media and has more than 20 years of experience leading broadcast groups, including previously serving as COO of Media General and as CEO and President of Young Broadcasting. A large media company with 6,883 employees and an annual revenue of $3.0B, TEGNA is headquartered in Virginia. Total company revenue was $917 million in the fourth quarter, up 18 percent year-over-year, driven by strong growth in political revenue despite advertising and marketing services ("AMS") revenue declines resulting from political displacement and macroeconomic headwinds. As part of the separation, the company announced that the broadcasting and digital company would be named Tegnaa partial anagram of "Gannett". Political revenue was a second quarter record of $51 million up 53 percent from 2018, the . We are deeply gratified that TEGNAs new owners value and embrace our purpose to serve the greater good of our communities. In 2012, before Tegna made its 2015 split from newspaper publishing company Gannett Co. Inc., political advertising hit $56 million in revenue in the third quarter and $144 million in the fourth . Following the close of the transaction, Deb McDermott will become CEO and Mr. Kim will serve as Chairman of a new Board. Texas GOP votes to censure Rep. Tony Gonzales over support on gun, same-sex Trump backs flying cars, calls for new cities in campaign video, Texas property tax bill excludes divorced, LGBTQ couples from getting relief. Like Adjusted EBITDA, free cash flow is not intended to be a measure of cash flow available for managements discretionary use. [33], A carriage dispute with DirecTV, beginning on December 2, 2020, resulted in the removal of at least 60 Tegna stations in 51 markets, covering about 39% of TV homes, from the DirecTV, AT&T U-verse and AT&T TV streaming platforms. The company defines Adjusted EBITDA as net income attributable to TEGNA before (1) net income attributable to redeemable noncontrolling interest, (2) income taxes, (3) interest expense, (4) equity loss in unconsolidated investments, net, (5) other non-operating items, net, (6) M&A-related costs, (7) advisory fees related to activism defense, (8) spectrum repacking reimbursements and other, net, (9) depreciation and (10) amortization. Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. TEGNA also owns leading multicast networks True Crime Network and Quest. interests.[49]. 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. With 63 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top 25 markets among independent station groups, reaching approximately 39 percent of all television households nationwide. Does the media have a liberal bias? Traffic/Popularity: Medium Traffic Cofactor Digital (ShopLocal) On December 15, 2016, sold Cofactor to Liquidus, a digital marketing solutions company. $2,850 to the Democratic Party. TEGNA Inc (TGNA) - Strategy, SWOT a Other major sources include 2ndVote, a research provider that scores companies from 5 (most conservative) to 1 (most liberal), and OpenSecrets, an online database that tracks political donations in the U.S. We are excited to partner again with Deb McDermott, who previously spearheaded the broadcast group at Media General, where Standard General was a principal shareholder. Tysons, Va. and New York - TEGNA Inc. (NYSE: TGNA) and Standard General L.P. today announced that TEGNA and an affiliate of Standard General have entered into a definitive agreement under which TEGNA will be acquired by the Standard General affiliate for $24.00 per share in cash. In regards to other rumored offers from Byron Allen and religious broadcaster TBN (the latter in partnership with Jahm Najafi), the company stated that "the other two parties have not signed confidentiality agreements to enable due diligence and have not delivered any information on financing sources". Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. Media Type: TV Station After evaluating this opportunity against TEGNAs standalone prospects and other strategic alternatives, our Board concluded that this transaction maximizes value for TEGNA shareholders. 12news.com is the website for KPNX that covers news, sports, and weather. TEGNA-SVC@SARDVERB.com, For investor inquiries, contact: In Q4, Locked On set a quarterly record with a total audience of more than 66 million listens and views. Being a big, bold thinker/innovator and at times, disruptor, for the station. For more information, visit www.TEGNA.com. In general, the news is reported factually and with minimal bias. Subsidiaries to TEGNA include Central Newspapers, Florida Today, and THV11. The company is 49.5% female and 39.7% ethnic minorities. [29] The sale was approved by the FCC on July 29, 2019,[30] and was completed on August 8. [13] 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. Cautionary Statement Regarding Forward-Looking Statements. Exposing corruption and wrongdoing, holding elected officials and those in power accountable, giving a voice to the voiceless and telling empowering stories that impact our lives is at the heart of our purpose to serve the greater good. . Our award-winning journalists have been recognized with numerous national honors including Edward R. Murrow, Alfred I. du Pont, George Foster Peabody, George Polk, Walter Cronkite and Emmy awards. Standard General is a minority-controlled and operated organization. Further, the website does not publish editorial commentary. As a result of the pending transaction and as previously announced, TEGNA expects to continue to pay its regular quarterly dividend through the closing of the transaction, but has suspended share repurchases under our previously announced share repurchase program. TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. They also referenced image consultants advising Asian reporters how to use makeup so their eyes looked more Western and requiring Latinx employees to disclose their own immigration status when broadcasting about such issues. The letter did not mention how recently those two instances or practices occurred. TEGNA employees are most likely to be members of the Democratic Party. [3] [4] It was created on June 29, 2015, when the Gannett Company split into two publicly traded companies. TEGNA stockholders voted to approve the transaction at the special meeting of stockholders held on May 17, 2022. Privacy Policy / Your California Privacy Rights. Note that indicators of conservative interest can change suddenly. While these items should not be disregarded in evaluation of our earnings performance, it is useful to exclude such items when analyzing current results and trends compared to other periods as these items can vary significantly from period to period depending on specific underlying transactions or events that may occur. On February 22, 2022, TEGNA Inc.and Standard General L.P. announcedthat TEGNAand an affiliate of Standard General entered into a definitive agreement under which TEGNAwill be acquired by the Standard General affiliate for $24.00per share in cash. by Richard Moody. With 63 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top 25 markets among independent station groups, reaching approximately 39 percent of. In comparison, some of its highest paying competitors, like. TEGNA Inc. - 2020 Annual Report Letter To Shareholders Dear Fellow Shareholders, TEGNA's purpose is to serve the greater good of our communities through empowering stories, impactful investigations and innovative marketing services.