TEGNA Inc


TGNA

Price

19.42


Change

-0.33


High

20.2


Low

19.41


Avg Volume

1,658,456


PE Ratio

7.27


52 Week High

22.09


52 Week Low

12.86



Profile

Tegna Inc. is an American publicly traded broadcast, digital media and marketing services company headquartered in Tysons, 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 66 television stations in 54 markets, 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 for $1.8 billion, giving it full ownership of properties such as Cars.com.


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