TEGNA, Inc. (TGNA)

Nexstar Media Group, Inc. announced a definitive agreement to acquire TEGNA for $22.00 per share in a cash transaction valued at $6.2 billion on August 19, 2025. The proposed acquisition is contingent on regulatory and shareholder approval. The company held its Q2 2025 earnings conference call on August 7, 2025, and its Q1 2025 earnings conference call on May 8, 2025. In the past month, TEGNA's stock price has decreased by 4.17%, while over the last 12 months, the stock's price increased by 23.34%.

Demand for TEGNA's products and services, particularly advertising revenue, exhibits seasonality, with political advertising increasing substantially during U.S. election years. The company's renewed contractual obligations in 2024, focusing on professional sports, news, weather, and related advertisements, suggest a reliance on consistent viewership and advertising during these periods. The general demand for local news, sports, and entertainment programming tends to be relatively consistent, though specific events like major sporting seasons or breaking news can lead to spikes in viewership and associated advertising opportunities.

TEGNA, Inc. is an American media company specializing in broadcasting and digital media, operating in the Industrials sector, specifically within the Broadcasting industry. The company owns and operates television stations, providing local news, sports programming, and entertainment content. TEGNA has a digital media presence, offering digital advertising and marketing services. Key products and services include local news coverage and its digital advertising platform, Premion. TEGNA also owns multicast networks such as True Crime Network and Quest, and operates VAULT Studios, which develops original television programs.

TEGNA has a significant geographic footprint across the United States, owning and operating 64 television stations and two radio stations in 51 U.S. markets. This network reaches approximately 39% of all U.S. television households, with stations affiliated with major networks including NBC, CBS, ABC, and FOX.

TEGNA generally maintains a reputation for providing trusted local news and services, with a mission to help communities thrive, and its stations are recognized for award-winning local news coverage. Reports and accusations from Senator Elizabeth Warren regarding Nexstar and Sinclair potentially blocking "Jimmy Kimmel Live!" highlight regulatory scrutiny and public perception issues within the broadcasting industry that could have a spillover effect, especially with the pending Nexstar acquisition. An article from October 2025 included TEGNA in a list of "3 Small-Cap Stocks We Steer Clear Of," citing annual sales declines.

TEGNA's ownership is predominantly institutional, with institutional shareholders holding approximately 86.62% to 99.00% of the company's stock. Major institutional owners include BlackRock, Inc., The Vanguard Group, Inc., Dimensional Fund Advisors LP, LSV Asset Management, and State Street Corp. Standard General LP is the largest individual TEGNA shareholder, owning 12.88% of the company's shares.