17.75 0.00 (0.00%)
After hours: 4:57PM EST
|Bid||15.70 x 900|
|Ask||19.24 x 3100|
|Day's Range||17.75 - 17.99|
|52 Week Range||11.25 - 18.30|
|Beta (5Y Monthly)||1.55|
|PE Ratio (TTM)||10.64|
|Earnings Date||Feb 27, 2020 - Mar 02, 2020|
|Forward Dividend & Yield||0.28 (1.55%)|
|Ex-Dividend Date||Dec 04, 2019|
|1y Target Est||18.30|
TEGNA has been designated a Best Place to Work for LGBTQ Equality by the Human Rights Campaign's Corporate Equality Index for a fourth straight year.
Another large investor in Tegna Inc wants the U.S. regional TV station operator to pursue a merger or sale, arguing a tie-up could be very valuable at a time the industry is facing a wave of consolidation, two people familiar with the matter said. Hedge fund HG Vora Capital Management, which owns about 4% of Tegna's stock, is the third investor to push for changes at Tegna. Standard General has laid the groundwork for a proxy contest and Donerail also wants changes to be made.
The New York Times Company (NYT) has been keeping pace with the changing times by utilizing technological advancements to reach their target audience more effectively.
Disney's (DIS) 20th Century Fox film studio will, henceforth, be known as 20th Century Studios and Fox Searchlight Pictures will become Searchlight Pictures.
Standard General L.P., one of the largest shareholders of TEGNA Inc. ("TEGNA" or the "Company") (NYSE: TGNA), with an ownership interest of approximately 9.7% of the Company's outstanding shares, has issued the following letter to TEGNA's shareholders.
(Bloomberg) -- Tegna Inc.’s third-biggest shareholder nominated four directors to the broadcaster’s board after its push for the company to explore strategic alternatives, including a sale, was stonewalled.Standard General LP, which owns about 9.7% of Tegna, unveiled its slate of directors Wednesday, confirming an earlier Bloomberg News report. Standard General has discussed its views with management but the company has stymied its push for board representation and a call to explore strategic alternatives, according to people familiar with the matter.“Given Standard General’s substantial investment in Tegna, our expertise in the broadcasting industry, and our focus on driving value for all Tegna shareholders, we strongly believe that Tegna shareholders would benefit from having a representative of Standard General on the Tegna board,” Standard General Chief Executive Officer Soo Kim wrote in a letter to the company’s investors Wednesday.Standard General’s nominees include Kim, Standard Media Group LLC CEO Deborah McDermott, Marca Global LLC founder Colleen Brown and Ellen McClain Haime, according to a statement.The New York-based investment firm believes there are several candidates for a takeover or merger with Tegna, the people said. It also thinks the company’s current strategy has failed to explore all the potential opportunities to unlock value, they said.Standard General had been seeking two Tegna board seats before expanding its slate, the people said. Tegna has 11 directors, according to its website.Tegna said in a statement its board has had several meetings with Kim and that he had not raised any possible transactions in those meetings. It also said it had evaluated him as a potential board candidate and had “serious concerns” about his prior business and board service. The board unanimously determined that adding him to the board was not in Tegna’s best interest.It added that it has put three new directors on the board since 2017 and six new directors over the past five years. It said it would evaluate the other three nominees.“Mr. Kim demanded a board seat for himself but offered no specific ideas to create value -- only statements that if he were on the board, he would have a unique ability to source and execute ‘transformative’ M&A,” Tegna said in a statement. “The board remains open to hearing Mr. Kim’s perspectives on Tegna’s business as a major shareholder.”Share ClimbShares of Tegna rose 2.2% to $17.37 at 10 a.m. in New York trading Wednesday, giving the company a market value of $3.8 billion.Tegna, based in McLean, Virginia, owns 62 television stations and four radio stations across the U.S., according to its website. In August, Tegna said it had drawn takeover interest from private equity firm Apollo Global Management Inc.Tegna said Apollo had twice approached it about potential transactions, including most recently in June with a proposal to combine Tegna’s broadcasting assets with those Apollo was in the midst of buying. An earlier proposal to acquire the entire company was short on details, including price, Tegna said in a statement at the time.Apollo closed its purchase of a portfolio of television and radio stations from Cox Enterprises Inc. in December.Kim said in Wednesday’s letter that Standard General had engaged with Tegna in an effort to reach a consensual solution and was disappointed that its request for board representation was rebuffed.“This refusal reflects a continued pattern of passivity by the Tegna board in the face of persistent underperformance, a questionable M&A strategy, excessive leverage and, recently, the apparent rebuff of an acquisition proposal at a premium valuation,” he wrote.Standard General is run by Kim, who co-founded the firm in 2007 after working at Bankers Trust, Och-Ziff Capital Management and Cyrus Capital Partners.(Updates with company comment starting in paragraph seven. Share price in paragraph 10)To contact the reporter on this story: Scott Deveau in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Liana Baker at email@example.com, Ben Scent, Amy ThomsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
TEGNA statement regarding announcement by Standard General LP nominating four candidates for election to TEGNA's Board of Directors.
The New York Times Company (NYT) has been diversifying business, adding new revenue streams, realigning cost structure and streamlining operations to increase efficiencies.
Standard General L.P., one of the largest shareholders of TEGNA Inc. (NYSE: TGNA), and the owner of approximately 9.7% of the Company's outstanding shares, today announced that it will nominate a slate of four highly qualified, diverse and independent candidates for election to the Board of Directors at the Company's 2020 Annual Meeting of Shareholders.
Shaw Communications' (SJR) first-quarter fiscal 2020 results benefit from strong wireless growth despite losing customers in the wireline segment.
TEGNA announced preliminary financial results for the fourth quarter ended December 31, 2019, and completion of its $1 billion senior note offering.
TEGNA announced it will be training all of its journalists to combat disinformation in 2020, working with global nonprofit First Draft.
Moody's Investors Service ("Moody's") has assigned a Ba3 rating to TEGNA Inc.'s (TEGNA) $1 billion senior unsecured notes due March 2028. The proceeds of these notes will be used to fully redeem TEGNA's 5.125% senior unsecured notes due July 2020 and 6.375% senior unsecured notes due October 2023.
Heading into 2020, we suggest investors to add 20 stocks to their portfolio that are currently priced under $20, backed by a solid Zacks Ranks and earnings expectations.