Tegna, Inc
Stories that matter. Brands that deliver. (main)
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| Public | |
| Traded as | |
| Predecessor | Gannett Company |
| Founded | June 29, 2015 |
| Headquarters | McLean, Virginia |
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Key people
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Marjorie Magner (Chairman) Dave Lougee (President and Chief Executive Officer) |
| Products |
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| Revenue |
 US$3.3 billion (2016) |
| Website | tegna |
Tegna, Inc. (stylized as TEGNA) is an American publicly traded broadcast, digital media and marketing services company headquartered in McLean, 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 46 television stations in 38 markets, and is the largest group owner of stations affiliated with NBC and CBS and the fourth-largest group owner of stations affiliated with ABC 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 Tegna is the legal successor to the "old" Gannett, while the "new" Gannett is legally considered a new company. 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.
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.
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