TEGNA Inc. serves local communities across the U.S. through journalism, engaging content, and tools to help people navigate their daily lives.
Through customized marketing solutions, the company helps businesses grow and thrive. With 64 television stations and two radio stations in 51 U.S. markets, the company is the largest owner of top four network affiliates in the top 25 markets among independent station groups, reaching approximately 39% of the U.S. television households. The company is on...
TEGNA Inc. serves local communities across the U.S. through journalism, engaging content, and tools to help people navigate their daily lives.
Through customized marketing solutions, the company helps businesses grow and thrive. With 64 television stations and two radio stations in 51 U.S. markets, the company is the largest owner of top four network affiliates in the top 25 markets among independent station groups, reaching approximately 39% of the U.S. television households. The company is one of the nation’s largest producers of local news, producing more than 1,700 hours of news per week. Additionally, through its network affiliation and local sports rights agreements, the company carries popular sports content, which includes professional and collegiate sports, and the Olympics. The company also owns leading multicast networks, True Crime Network and Quest. Each television station has a robust digital presence across online, mobile, connected television, streaming, and social platforms, reaching consumers on all devices and platforms they use to consume news content. The company's combined local and national sales forces capitalize on the reach provided by these offerings to provide its advertising customers with an extensive customer base. The company delivers results for advertisers across television, digital, connected TV (CTV), and streaming app platforms, including Premion, its streaming app and CTV advertising network.
The company also strives to better serve its communities, customers, and advertisers through local streaming apps that offer live and on-demand personalized, hyper-local, always-on content and services. Through this approach to local streaming, the company seeks to focus on content that is hyper-relevant to its audience, which in turn provides further value to its advertising customers by allowing them to effectively reach their target audience on whatever device its viewers may be consuming its content on.
The primary sources of the company’s revenues are subscription revenues, reflecting fees paid by satellite, cable, streaming apps (services that deliver video content to consumers over the Internet) and telecommunications providers to carry the company’s television signals on their systems; advertising & marketing services (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 streaming apps; 3) political advertising revenues, which are driven by even-year election cycles at the local and national level (e.g. 2022, 2024, etc.) and particularly in the second half of those years; and other services, such as production of programming, tower rentals and distribution of the company’s local news content.
Linear broadcast television channels, powered by compelling local and network content, continue to have broad appeal in terms of household viewership, viewing time, and audience reach, making it highly desirable for distributors and providers to include the company's stations in their channel lineups. The overall reach of events, such as the Olympics and NFL football, together with the company's extensive local news and non-news programming, continues to surpass the reach in viewership of individual cable channels.
The company's television stations produce local programming, such as news, sports, weather, and entertainment. In addition, the company's portfolio of ‘Big 4’ NBC, CBS, ABC, and FOX stations operates under long-term network affiliation agreements. Generally, a network provides programming to its affiliated television stations, and the network sells commercial advertising for certain of the available advertising spots within such programming, while the company's television stations sell some of the available commercial advertising spots within the network programming, as well as the other local programming that the station originates.
Strategy
The company reaches people over the air (approximately 15 to 20% of American households depend on over-the-air TV in part or completely for access to television), on cable and satellite, on CTVs through its live and on-demand streaming apps, and online through its local websites and apps. In aggregate, the company serves over 100 million people with its trusted information every month.
The company's local brands— like KUSA, WFAA, News Channel Maine, and First Coast News—have served their communities for decades, building strong relationships with their local audiences. In an era of wavering trust in news and institutions, local news continues to be viewed by a majority of consumers as objective, nonpartisan, and trustworthy.
The company also provides an essential service to local advertisers who want to grow their business by reaching local consumers, with more than 12,600 local, regional, and national advertisers connecting with their future customers through its TV and digital products.
As the media ecosystem has evolved, and consumers have developed insatiable appetites for relevant content on all of their screens, the internet has created new opportunities to better serve local communities with personalized, hyper-local, always-on content and services. TEGNA’s strong local news brands, deep community trust, and the skill of professional local news teams, and relationships with local advertisers are valuable assets that create a ‘right to win’ in this rapidly evolving space.
To capitalize on these new digital opportunities, the company is transforming how it creates the news, sells to local advertisers, and operates, guided by the following strategic choices: commitment to local journalism; A+ talent and culture; maximizing its linear TV business; reimagining news production; integrating sales across platforms; personalized viewer experiences; zero waste; and M&A.
Competition
Advertisers
While the company’s stations still compete with traditional media companies, including broadcasters and other local media (e.g., newspapers and radio stations), they also increasingly compete with a vast array of digital competitors. These digital competitors include:
Social media platforms (Facebook, Instagram, TikTok, etc.), which offer highly targeted advertising options and sophisticated data analytics;
Streaming services (YouTube, Hulu, Netflix, etc.) that provide engaging content environments and increasingly robust advertising platforms; and
Search engines (Google, Bing, etc.) that dominate online advertising through search ads, display ads, and programmatic advertising.
Regulatory Environment
The company’s television and radio stations are operated under the authority of the Federal Communications Commission (FCC), the Communications Act of 1934, as amended (Communications Act), and the rules and policies of the FCC (FCC regulations).
The company’s stations operate in substantial compliance with the Communications Act and FCC regulations.
As of December 31, 2024, the company was broadcasting the following primary channels in both ATSC 1.0 and ATSC 3.0 formats: KGW (Portland, OR), WTSP (Tampa, FL), KUSA (Denver, CO), KING (Seattle, WA), KONG (Everett, WA), WGRZ (Buffalo, NY), KXTV (Sacramento, CA), KPNX (Mesa, AZ), WCNC (Charlotte, NC), KTHV (Little Rock, AR), WXIA (Atlanta, GA), KSDK (St. Louis, MO), WTHR (Indianapolis, IN), WTIC (Hartford, CT), WCCT (Waterbury, CT), KHOU (Houston, TX), WUSA (Washington, DC), WHAS (Louisville, KY), WWL (New Orleans, LA), WUPL (Slidell, LA), KARE (Minneapolis, MN), KENS (San Antonio, TX), and KMSB (Tucson, AZ).
The company has entered into channel sharing agreements with other local broadcasters in the market to facilitate this transition by hosting the applicable primary channel in either ATSC 1.0 or 3.0 format. The company has converted KONG (Everett, WA), WCCT-TV (Waterbury, CT), and WUPL (New Orleans, LA) to operate in ATSC 3.0; each of these stations serves as a 3.0 ‘lighthouse’ for its market and has its primary and multicast channels broadcast in ATSC 1.0 via channel sharing arrangements.
The company is subject to various laws and government regulations concerning environmental matters and employee safety and health. The U.S. federal environmental legislation that pertains to the company includes the Toxic Substances Control Act, the Resource Conservation and Recovery Act, the Clean Air Act, the Clean Water Act, the Safe Drinking Water Act, and the Comprehensive Environmental Response, Compensation and Liability Act (also known as Superfund). The company is also regulated by the Occupational Safety and Health Administration (OSHA) concerning employee safety and health matters. The Environmental Protection Agency (EPA), OSHA, and other federal agencies have the authority to write regulations that have an effect on the company's operations.
History
TEGNA Inc. was founded in 1906. The company was incorporated in 1923.