TEGNA(TGNA)
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TEGNA(TGNA) - 2021 Q4 - Earnings Call Presentation
2022-02-28 17:23
Transaction Overview - Standard General 将以每股 24 美元的价格收购 TEGNA,交易对 TEGNA 的股权估值约为 54 亿美元,企业价值约为 86 亿美元[9]。 - 该交易价格较 2021 年 9 月 14 日 TEGNA 未受影响的收盘股价溢价约 39%,较 TEGNA 自 2015 年从 Gannett 出版业务分离以来的历史最高收盘价溢价约 11%[9]。 - 如果交易在签约后的 9 到 12 个月内完成,TEGNA 股东将获得额外的现金对价,形式为每天每股 000167 美元的“跳动费”,如果交易在签约后的 12 到 13 个月内完成,则增加到每天每股 00025 美元[9]。 Financial Performance - TEGNA 在 2021 年实现了创纪录的公司总收入、订阅收入和 AMS 收入[11]。 - 2021 年订阅收入为 15 亿美元,同比增长 14%,这得益于费率上涨[11]。与 2019 年相比增长 46%[11]。 - 2021 年 AMS 收入为 14 亿美元,同比增长 22%,这得益于各个广告类别的实力[11]。与 2019 年相比增长 16%[11]。 - 2021 年自由现金流为 5.77 亿美元,同比下降 22%,原因是 2020 年没有创纪录的政治收入[11]。与 2019 年相比增长 53%[11]。 - 2021 年调整后的 EBITDA 为 9.48 亿美元,同比下降 7%,原因是 2020 年没有创纪录的高利润政治收入[11]。与 2019 年相比增长 34%[11]。 Portfolio and Strategy - TEGNA 是前 25 大市场中最大的 Big Four 附属公司独立所有者,拥有 21 个电视台,其中 16 个是 Big Four 附属公司[12]。 - 自 2018 年以来,TEGNA 完成了六项收购,总额约为 18 亿美元,从而加强了市场地位和电台组合[21]。 - TEGNA 的收入来源多样化,其中两个主要收入来源在很大程度上不受广告周期的影响;高利润的订阅收入和政治收入占公司两年总收入的 50% 以上[19]。 DE&I and ESG Initiatives - TEGNA 正在加速和加强其对 DE&I 和 ESG 的长期承诺[28]。 - TEGNA 设定了 2025 年多元化和包容性目标,并在 2021 年取得了进展,包括内容团队的 BIPOC 代表性从 27% 增加到 30%,内容领导层的 BIPOC 代表性从 17% 增加到 20%,公司领导层的 BIPOC 代表性从 16% 增加到 18%,所有员工的 BIPOC 代表性从 25% 增加到 27%[37]。 - TEGNA 在 2021 年向社区提供了 330 笔社区赠款,以解决紧迫的社区需求[43]。
TEGNA(TGNA) - 2021 Q3 - Earnings Call Transcript
2021-11-06 00:51
TEGNA Inc. (NYSE:TGNA) Q3 2021 Earnings Conference Call November 4, 2021 9:00 AM ET Company Participants Doug Kuckelman - Head-Investor Relations Dave Lougee - President & Chief Executive Officer Victoria Harker - Chief Financial Officer Conference Call Participants Dan Kurnos - The Benchmark Company Doug Arthur - Huber Research Jim Goss - Barrington Research Craig Huber - Huber Research Partners Kyle Evans - Stephens Steven Cahall - Wells Fargo Barton Crockett - DCFstocks Operator Good day and welcome to t ...
TEGNA(TGNA) - 2021 Q3 - Quarterly Report
2021-11-04 20:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-6961 ___________________________ TEGNA INC. (Exact name of registrant as specified in its charter) ___________________________ (State or other jurisdiction of incorporation or organ ...
TEGNA(TGNA) - 2021 Q2 - Quarterly Report
2021-08-09 20:06
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q _______________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR (703) 873-6600 (Registrant's telephone number, including area code) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-6961 ___________________________ TEGNA INC. (Exact name of registrant as specified i ...
TEGNA(TGNA) - 2021 Q2 - Earnings Call Transcript
2021-08-09 18:19
TEGNA Inc. (NYSE:TGNA) Q2 2021 Earnings Conference Call August 9, 2021 9:00 AM ET Company Participants Doug Kuckelman – Head-Investor Relations Dave Lougee – President and Chief Executive Officer Victoria Harker – Chief Financial Officer Conference Call Participants Dan Kurnos – Benchmark Company Craig Huber – Huber Research Partners Steven Cahall – Wells Fargo Jim Goss – Barrington Research Doug Arthur – Huber Research David Karnovsky – JPMorgan Operator Good day, and welcome to the Second Quarter 2021 TEG ...
TEGNA(TGNA) - 2021 Q2 - Earnings Call Presentation
2021-08-09 16:53
Trusted Voices Delivering Results Investor Presentation August 2021 TEGNA Forward-Looking Statements Certain statements in this communication may constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are subject to a number of risks, trends and uncertainties that could cause actual results or company actions to differ materially from what is expressed or implied by these statements, including risks relating ...
TEGNA(TGNA) - 2021 Q1 - Earnings Call Transcript
2021-05-10 23:16
Financial Data and Key Metrics Changes - TEGNA achieved record total revenues, advertising and marketing services revenues, subscription revenue, net income, and adjusted EBITDA in Q1 2021, marking the strongest first quarter since becoming a pure-play broadcasting company [7][28]. - Total company revenue increased by 6% year-over-year, with a 41% increase compared to Q1 2019 [33]. - Adjusted EBITDA reached a record $231 million, representing a 32% margin for the quarter, and was up 9% year-over-year [47][48]. Business Line Data and Key Metrics Changes - Advertising and marketing services revenues rose by 9.4% year-over-year, driven by both traditional and digital advertising, including the growth of Premion [8][37]. - Subscription revenues increased by 16% year-over-year, supported by strong retransmission rates and improved subscriber trends [11][35]. - Premion is projected to close 2021 with revenues 45% to 50% higher than 2020, reflecting its continued growth [9]. Market Data and Key Metrics Changes - Subscriber trends improved, with a year-over-year decline of less than 5%, the best performance since 2019 [11][34]. - The automotive advertising category, TEGNA's largest, improved significantly, with low double-digit growth compared to last year [39]. - Non-political advertising categories are recovering, with strong audience metrics across both traditional and digital platforms [38]. Company Strategy and Development Direction - TEGNA is focused on leveraging streaming growth through Premion and expanding news and entertainment content across streaming platforms [13][15]. - The company has a disciplined M&A strategy, integrating acquisitions effectively and realizing synergies [29][57]. - TEGNA aims to continue paying down debt while returning value to shareholders through increased dividends and share repurchase programs [19][55]. Management Comments on Operating Environment and Future Outlook - Management expressed optimism for continued growth in Q2 and the remainder of the year, supported by strong advertising and subscription revenue trends [7][21]. - The company noted that the advertising environment is improving, particularly in larger markets, and expects further recovery as the economy reopens [85][86]. - Management highlighted the importance of local advertising and the unique position of Premion in the competitive OTT advertising market [90][91]. Other Important Information - TEGNA has made significant progress in diversity, equity, and inclusion initiatives, including a comprehensive journalism program [23][24]. - The company has a strong balance sheet, with total debt at $3.5 billion and a net leverage ratio of 3.82x [50][51]. - Free cash flow for Q1 2021 was a record $159 million, representing 22% of total revenue [53]. Q&A Session Summary Question: Can you discuss the drivers of Premion's growth? - Management indicated that local sales are the primary driver of Premion's growth, with increasing inventory and strong demand from local advertisers [70][71]. Question: How is the automotive advertising category performing? - Management noted that automotive advertising is performing well, particularly in large markets, despite supply chain issues affecting the industry [73][75]. Question: What is the outlook for cash taxes? - Management confirmed that the cash tax guidance remains unchanged, with specific figures to be provided later [76][78]. Question: How does TEGNA's core advertising environment compare to 2019? - Management stated that core advertising levels are slightly down compared to 2019, but larger markets are performing better than both last year and 2019 [85][86]. Question: What is the significance of the new NFL deals for TEGNA? - Management emphasized that having NFL content on broadcast for the next 11 years is a significant advantage for the industry, although streaming changes may impact local inventory [87][88]. Question: What is the competitive landscape for Premion? - Management acknowledged the competitive nature of the OTT advertising space but highlighted TEGNA's focus on local advertising as a differentiator [90][91].
TEGNA(TGNA) - 2021 Q1 - Quarterly Report
2021-05-10 20:08
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-6961 ___________________________ FORM 10-Q _______________________ TEGNA INC. (Exact name of registrant as specified in its charter) ___________________________ (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification N ...
TEGNA(TGNA) - 2020 Q4 - Annual Report
2021-03-01 21:36
Part I [Business](index=3&type=section&id=Item%201.%20Business) TEGNA is a major U.S. media company operating 64 television stations, with revenue driven by subscription, advertising, and political spending [Business Overview and Operating Structure](index=3&type=section&id=Business%20Overview%20and%20Operating%20Structure) The company operates 64 TV stations reaching 39% of U.S. households and has shifted to a pure-play broadcasting model - TEGNA operates 64 television stations and two radio stations in 51 U.S. markets, reaching approximately **39% of U.S. television households**[9](index=9&type=chunk) - The company has transformed into a pure-play broadcasting company through strategic acquisitions of over 40 stations and divestment of non-core assets[10](index=10&type=chunk) Revenue Composition (2019-2020 vs. 2018-2019) | Revenue Source | Combined Two Year Period 2019 - 2020 | Combined Two Year Period 2018 - 2019 | | :--- | :--- | :--- | | Advertising & Marketing Services | 46% | 52% | | Subscription | 44% | 41% | | Political | 9% | 6% | | Other | 1% | 1% | [Our Strategy](index=4&type=section&id=Our%20Strategy) The company's five-pillar strategy prioritizes operational excellence, M&A, innovation, balance sheet strength, and strong free cash flow - The company's five-pillar strategy includes: being a best-in-class operator, pursuing accretive M&A, driving organic innovation (e.g., Premion), maintaining a strong balance sheet, and strong free cash flow generation with optimized capital allocation[21](index=21&type=chunk)[23](index=23&type=chunk) - Subscription revenue growth is a key focus, with multi-year distribution agreements renewed in Q4 2020 representing approximately **35% of paid subscribers** at leading rates[22](index=22&type=chunk) - Premion, the company's OTT advertising service, continues strong growth, with revenue up **more than 40% in 2020 to over $145 million**[40](index=40&type=chunk) - The company is focused on de-levering following 2019 acquisitions, reducing its net leverage ratio from 4.92x at year-end 2019 to **3.95x at year-end 2020**[48](index=48&type=chunk)[49](index=49&type=chunk) [Competition and Regulatory Environment](index=8&type=section&id=Competition%20and%20Regulatory%20Environment) The company faces competition from diverse media platforms and is subject to significant FCC ownership and operational regulations - The company competes for advertising revenue with other broadcast stations, cable providers, and digital platforms like Google and Facebook[54](index=54&type=chunk)[55](index=55&type=chunk) - The business is subject to FCC regulations, including licensing, local and national broadcast ownership restrictions, and rules governing retransmission consent negotiations[57](index=57&type=chunk)[58](index=58&type=chunk)[59](index=59&type=chunk) - TEGNA's 64 television stations reach approximately **39.3% of U.S. television households** without the UHF discount, which is close to the national ownership cap of 39%[63](index=63&type=chunk) [Human Capital and Corporate Responsibility](index=11&type=section&id=Human%20Capital%20and%20Corporate%20Responsibility) The company focuses on diversity and inclusion, corporate sustainability reporting, and significant community and philanthropic engagement - As of December 31, 2020, TEGNA employed approximately 6,430 people, with a workforce that is **47% female and 25% people of color**[75](index=75&type=chunk) - In 2020, the company appointed its first Chief Diversity Officer and established a Diversity & Inclusion Working Group[79](index=79&type=chunk)[82](index=82&type=chunk) - TEGNA has adopted Sustainability Accounting Standards Board (SASB) standards and plans to conduct a climate-related financial disclosures (TCFD) gap analysis in 2021[94](index=94&type=chunk)[96](index=96&type=chunk) - In 2020, TEGNA stations helped raise **over $100 million for local causes**, including over $66 million for COVID-19 relief efforts[101](index=101&type=chunk)[102](index=102&type=chunk) [Risk Factors](index=21&type=section&id=Item%201A.%20Risk%20Factors) Key risks include dependency on cyclical advertising demand, competition from alternative media, and the financial impact of COVID-19 - A significant portion of revenue (**40% in 2020**) comes from advertising, which is highly dependent on the U.S. economy[116](index=116&type=chunk) - The COVID-19 pandemic has had and may continue to have a dampening effect on non-political Advertising & Marketing Services (AMS) revenues[120](index=120&type=chunk)[123](index=123&type=chunk) - Subscription revenues, which represented approximately **44% of 2020 total revenues**, depend on retransmission consent agreements, with about 30% of subscribers up for renewal in 2021[129](index=129&type=chunk) - Goodwill and other intangible assets were approximately **$5.47 billion** as of December 31, 2020, representing about **80% of total assets** and are at risk of impairment[141](index=141&type=chunk) [Unresolved Staff Comments](index=25&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments - None[142](index=142&type=chunk) [Properties](index=25&type=section&id=Item%202.%20Properties) The company's properties consist of offices, studios, and transmitter sites for its television stations - Properties required to support television stations include offices, studios, sales offices, and tower/transmitter sites[143](index=143&type=chunk) [Legal Proceedings](index=25&type=section&id=Item%203.%20Legal%20Proceedings) Information regarding legal proceedings is referenced in Note 12 of the Notes to consolidated financial statements - Refer to Note 12 of the Notes to consolidated financial statements for information on legal proceedings[145](index=145&type=chunk) [Mine Safety Disclosures](index=25&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[146](index=146&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=25&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity,%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's stock trades on the NYSE, and a $300 million share repurchase program was renewed in December 2020 - In December 2020, the Board of Directors authorized the renewal of the share repurchase program for up to **$300.0 million** of common stock over the next three years[148](index=148&type=chunk) - The company has paid a regular quarterly cash dividend of **$0.07 per share** since 2017, with total dividends paid of **$76.5 million in 2020**[149](index=149&type=chunk) [Selected Financial Data](index=25&type=section&id=Item%206.%20Selected%20Financial%20Data) This section has been excluded pursuant to Regulation S-K Item 301, as amended - Excluded pursuant to Regulation S-K Item 301, as amended[150](index=150&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the significant revenue growth in 2020, driven by political advertising and subscription fees, alongside analysis of operations and liquidity [Consolidated Results from Operations](index=27&type=section&id=Consolidated%20Results%20from%20Operations) Revenues and operating income grew significantly in 2020, driven by record political advertising and subscription growth Consolidated Results of Operations (in thousands) | | 2020 | 2019 | Change from 2019 | 2018 | Change from 2018 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Revenues** | **$2,937,780** | **$2,299,497** | **28%** | **$2,207,282** | **33%** | | Total Operating expenses | $2,066,798 | $1,740,479 | 19% | $1,508,806 | 37% | | **Operating income** | **$870,982** | **$559,018** | **56%** | **$698,476** | **25%** | | Income from continuing operations | $482,763 | $286,235 | 69% | $401,340 | 20% | | **EPS from continuing operations - diluted** | **$2.19** | **$1.31** | **67%** | **$1.85** | **18%** | Revenue by Category (in thousands) | | 2020 | 2019 | Change from 2019 | 2018 | Change from 2018 | | :--- | :--- | :--- | :--- | :--- | :--- | | Subscription | $1,286,611 | $1,005,030 | 28% | $840,838 | 53% | | Advertising & Marketing Services | $1,174,774 | $1,226,607 | (4%) | $1,106,754 | 6% | | Political | $445,535 | $38,478 | *** | $233,613 | 91% | | Other | $30,860 | $29,382 | 5% | $26,077 | 18% | | **Total revenues** | **$2,937,780** | **$2,299,497** | **28%** | **$2,207,282** | **33%** | - Total revenues increased by **$638.3 million (28%)** in 2020 compared to 2019, with $296.7 million contributed by the 2019 acquisitions[165](index=165&type=chunk) [Operating results non-GAAP information](index=32&type=section&id=Operating%20results%20non-GAAP%20information) Management utilizes non-GAAP metrics like Adjusted EBITDA and Free Cash Flow to assess core operational performance - Management uses non-GAAP measures such as **Adjusted EBITDA and Free Cash Flow** to evaluate company performance, excluding the impact of 'special items' like M&A costs and restructuring expenses[192](index=192&type=chunk)[193](index=193&type=chunk) Adjusted EBITDA Reconciliation (in thousands) | | 2020 | 2019 | Change | | :--- | :--- | :--- | :--- | | Net income attributable to TEGNA Inc. (GAAP) | $482,778 | $286,235 | 69% | | Adjustments (Taxes, Interest, D&A, etc.) | $541,515 | $421,277 | 29% | | **Adjusted EBITDA (non-GAAP)** | **$1,024,293** | **$707,512** | **45%** | Free Cash Flow Reconciliation (in thousands) | | 2020 | 2019 | | :--- | :--- | :--- | | Net Income attributable to TEGNA Inc. (GAAP) | $482,778 | $286,235 | | Plus/Less: Various non-cash and cash adjustments | $258,355 | $89,013 | | **Free cash flow (non-GAAP)** | **$741,133** | **$376,248** | [Financial Position, Liquidity and Capital Resources](index=37&type=section&id=Financial%20Position,%20Liquidity%20and%20Capital%20Resources) The company generated strong operating cash flow, maintained ample liquidity, and actively managed its debt profile in 2020 - Operating activities generated **$805.1 million in cash flow in 2020**, a significant increase from $297.5 million in 2019, driven by a $407.1 million increase in political revenue[217](index=217&type=chunk) - As of Dec 31, 2020, total principal debt was **$3.58 billion**, with **$1.13 billion of unused borrowing capacity** and a leverage ratio of 3.86x[211](index=211&type=chunk)[222](index=222&type=chunk) - In 2020, the company undertook several debt refinancing activities, including issuing **$1.0 billion of 4.625% senior notes** and **$550 million of 4.750% senior notes**[223](index=223&type=chunk)[224](index=224&type=chunk) [Critical Accounting Policies](index=41&type=section&id=Critical%20Accounting%20Policies) Key accounting estimates involve goodwill, intangible assets, and pension liabilities, with some assets facing impairment risk - Goodwill of **$3.0 billion (43% of total assets)** is tested for impairment annually, with the 2020 test indicating fair value significantly exceeded carrying value[233](index=233&type=chunk)[238](index=238&type=chunk) - Indefinite-lived intangible assets of **$2.1 billion (31% of total assets)** are tested for impairment annually, with recently acquired licenses of **$67.2 million** at a heightened risk of future impairment[240](index=240&type=chunk)[242](index=242&type=chunk)[244](index=244&type=chunk) - Pension liabilities are subject to key assumptions, including the discount rate (**2.55% for 2020**) and the expected long-term rate of return on plan assets (**6.75% for 2020**)[248](index=248&type=chunk)[250](index=250&type=chunk)[251](index=251&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=44&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risk exposure relates to interest rates on its $355 million of floating-rate debt - The main market risk is interest rate changes on floating-rate debt; a **50 basis point change** in interest rates would impact annual interest expense by **$1.8 million**[256](index=256&type=chunk) [Financial Statements and Supplementary Data](index=45&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section contains the company's audited consolidated financial statements and detailed notes for the fiscal years 2018 through 2020 [Note 2 – Acquisitions](index=60&type=section&id=Note%202%20%E2%80%93%20Acquisitions) The company completed four strategic acquisitions in 2019, adding significant net assets to its portfolio Summary of 2019 Acquisitions (in thousands) | Acquisition | Seller | Closing Date | Net Assets Acquired | | :--- | :--- | :--- | :--- | | Nexstar Stations | Nexstar Media Group | Sep 19, 2019 | $769,943 | | Dispatch Stations | Dispatch Broadcast Group | Aug 8, 2019 | $560,473 | | Justice & Quest | Cooper Media | Jun 18, 2019 | $90,046 | | Gray Stations | Gray Television | Jan 2, 2019 | $109,920 | | **Total** | | | **$1,530,382** | [Note 6 – Long-term debt](index=67&type=section&id=Note%206%20%E2%80%93%20Long-term%20debt) Total long-term debt was reduced in 2020 through repayments and active management of credit facilities and unsecured notes Long-Term Debt Summary (in thousands) | | Dec. 31, 2020 | Dec. 31, 2019 | | :--- | :--- | :--- | | Borrowings under revolving credit facility | $355,000 | $903,000 | | Unsecured notes (various) | $3,227,000 | $3,165,000 | | Unsecured term loans | $0 | $125,000 | | **Total principal long-term debt** | **$3,582,000** | **$4,203,000** | [Note 12 – Other matters](index=80&type=section&id=Note%2012%20%E2%80%93%20Other%20matters) The company faces an antitrust class action lawsuit and has substantial future programming contract commitments - The company is a defendant in a consolidated class action lawsuit alleging antitrust violations related to local television advertising sales practices[436](index=436&type=chunk) Programming Contract Commitments (in thousands) | Year | Amount | | :--- | :--- | | 2021 | $810,069 | | 2022 | $847,218 | | 2023 | $536,785 | | 2024 | $1,981 | | 2025 | $404 | | **Total** | **$2,196,457** | [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=82&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - None[449](index=449&type=chunk) [Controls and Procedures](index=82&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and internal control over financial reporting were effective as of year-end 2020 - Management concluded that disclosure controls and procedures were **effective** as of December 31, 2020[450](index=450&type=chunk) - Management concluded that internal control over financial reporting was **effective** as of December 31, 2020[451](index=451&type=chunk) [Other Information](index=82&type=section&id=Item%209B.%20Other%20Information) The company reports no other information for this item - None[454](index=454&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=83&type=section&id=Item%2010.%20Directors,%20Executive%20Officers%20and%20Corporate%20Governance) Information regarding directors, executive officers, and corporate governance is incorporated by reference from the company's 2021 proxy statement - Information is incorporated by reference from the 2021 proxy statement[456](index=456&type=chunk) [Executive Compensation](index=83&type=section&id=Item%2011.%20Executive%20Compensation) Information regarding executive and director compensation is incorporated by reference from the company's 2021 proxy statement - Information is incorporated by reference from the 2021 proxy statement[457](index=457&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=83&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Information regarding security ownership and equity compensation plans is incorporated by reference from the company's 2021 proxy statement - Information is incorporated by reference from the 2021 proxy statement[458](index=458&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=83&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions,%20and%20Director%20Independence) Information regarding related party transactions and director independence is incorporated by reference from the company's 2021 proxy statement - Information is incorporated by reference from the 2021 proxy statement[459](index=459&type=chunk) [Principal Accountant Fees and Services](index=83&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Information regarding principal accountant fees and services is incorporated by reference from the company's 2021 proxy statement - Information is incorporated by reference from the 2021 proxy statement[460](index=460&type=chunk) Part IV [Exhibits and Financial Statement Schedules](index=84&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists the financial statements, schedules, and exhibits filed as part of the Form 10-K report - This section contains a list of all financial statements, schedules, and exhibits filed with the Form 10-K, including certifications from the CEO and CFO[462](index=462&type=chunk)[464](index=464&type=chunk) [Form 10-K Summary](index=93&type=section&id=Item%2016.%20Form%2010-K%20Summary) The company provides no summary for this item - None[477](index=477&type=chunk)
TEGNA(TGNA) - 2020 Q4 - Earnings Call Transcript
2021-03-01 19:36
TEGNA Inc. (NYSE:TGNA) Q4 2020 Earnings Conference Call March 1, 2021 9:00 AM ET Company Participants Dave Lougee - President and Chief Executive Officer Victoria Harker - Chief Financial Officer Doug Kuckelman - Head of Investor Relations Conference Call Participants Dan Kurnos - The Benchmark Company Steven Cahall - Wells Fargo Alexia Quadrani - JP Morgan Kyle Evans - Stephens Doug Arthur - Huber Research Vasily Karasyov - Cannibal Research Craig Huber - Huber Research Jim Goss - Barrington Research Opera ...