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For immediate release

TEGNA Presents at UBS Global Media and Communications Conference

Leadership team provides comprehensive update on 2015 results and outlook for 2016

TEGNA focused on innovation and poised for significant growth

McLEAN, VA – TEGNA Inc. (NYSE: TGNA) executives at the UBS Global Media and Communications Conference today provided an update on the company’s results and for each of its business segments and discussed their current outlook for 2016.

Gracia Martore, TEGNA president and CEO, reiterated the strengths of each of the company’s businesses and the tremendous opportunities in 2016. Martore commented, “Our path toward increased value for all of our stakeholders is based on several key strengths, including top performing assets and scale in high-growth, high margin businesses that are led by widely-respected industry leaders. In addition, we are financially disciplined, our balance sheet is strong and our capital structure is shareholder-focused. These core advantages provide the flexibility we need to invest in the business and seize opportunities for growth, both organically and through acquisitions. We believe we are extremely well positioned and in 2015 expect to generate more than $1.0 billion in Adjusted EBITDA from a revenue base of over $3.0 billion. Our entire leadership team is incredibly proud of what we’ve built at TEGNA and very much looking forward to the continued evolution of the company.”


Dave Lougee, president of TEGNA Media, discussed the performance of TEGNA Media in 2015, trends in the media space and several company initiatives. Lougee said, “TEGNA Media has a unique, strategic portfolio with significant scale. We are geographically diverse across the country with media properties in high growth areas such as the Northwest and Southwest, including Texas, where we now reach 84% of the state. Another advantage is our network affiliation diversity – we are the largest independent owner of NBC and CBS stations in terms of homes reached, and the fourth largest owner of ABC affiliates. Our strong local brands and ever-evolving local news and programming operations engage consumers every hour of the day, and we are constantly focused on bringing fresh, innovative content to our audiences to ensure that we remain as relevant as ever in today’s shifting media landscape.”

TEGNA Digital

Matt Ferguson, CEO of CareerBuilder, summarized CareerBuilder’s transition into the leader in human resources software as a service and its expected growth opportunities. He commented, “In September, CareerBuilder unveiled an exciting new look and feel for our brand as an innovative tech company, which underscored our evolution from the top job board to the leader in HR software-as–a-service (SaaS). This transition has positioned us for significant growth. We expect revenue growth to be in the low to mid-single digits in 2016 and to reach double-digit growth by the end of 2017. We are excited about the opportunities ahead as we break new ground in this rapidly expanding industry.”

Alex Vetter, president and CEO of, summarized the growth drivers for as the auto industry continues to shift more of its advertising dollars to digital solutions. He stated, “Our goal is to become number one in share of audience and to be the trusted, dominant platform of choice for digital automotive media spend. To achieve this goal, we need to take advantage of the industry’s dramatic shift to digital. We have a unique, highly predictable business model and we expect that the expansion of our product suite will drive market share gain, increase our customer count and drive revenue growth. We feel very good about the trajectory of the business and expect to see revenue growth of 10 percent or more in 2016.”

Expected Results

Victoria Harker, executive vice president and chief financial officer, discussed the company’s expected fourth quarter and 2015 results, its capital allocation program, and certain operating and financial assumptions for 2016. “Based on current trends, we are very comfortable with the First Call consensus of earnings per share estimates,” said Harker.

A replay of the TEGNA presentations will be available by webcast for 30 days at

Below this press release are TEGNA’s operating assumptions for 2016.


TEGNA Inc. (NYSE: TGNA), formerly Gannett Co., Inc., is comprised of a dynamic portfolio of media and digital businesses that provide content that matters and brands that deliver. TEGNA reaches more than 90 million Americans and delivers highly relevant, useful and smart content, when and how people need it, to make the best decisions possible. TEGNA Media includes 46 television stations and is the largest independent station group of major network affiliates in the top 25 markets, reaching approximately one-third of all television households nationwide. TEGNA Digital is comprised of, the leading online destination for automotive consumers, CareerBuilder, a global leader in human capital solutions, and other powerful brands such as G/O Digital, Cofactor, Clipper and Sightline Media Group. For more information, visit

For media inquiries, contact:
Jeremy Gaines
Vice President,

Corporate Communications

For investor inquiries, contact:
Jeffrey Heinz
Vice President, Investor Relations


December 9, 2015

A. TEGNA Media Revenue
2016 Plan Percentage growth of high-teens to low 20’s over 2015


B. Retransmission Revenue
2016 Plan Growth of 25% to 30% over 2015
2015 Estimate $448 million


C. Capital Expenditures
2016 Plan $85 million to $95 million
2015 Estimate $95 million to $102 million


D. Depreciation
2016 Plan $90 million to $95 million
2015 Estimate $90 million to $95 million


E. Amortization of Intangibles
2016 Plan $110 million to $115 million
2015 Estimate Approximately $115 million


F. Debt
We expect our debt at the beginning of 2016 to be in the range of $4.1 – $4.2 billion. For modeling purposes only, we have assumed that the preponderance of our free cash flow, after dividends and potential share repurchases, will likely be used to pay down debt.


G. Tax Rate
The tax rate for 2016 will be approximately 35% to 36%, depending on the mix of earnings.


Certain factors affecting forward-looking statements

Certain statements in this press release, including the operating assumptions for 2016, may be deemed “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this press release, including the operating assumptions, are subject to a number potential risks and uncertainties which could adversely affect our results including, without limitation, the following factors: (a) changes in economic conditions in the U.S. and other markets we serve may depress demand for our products and services; (b) competition from alternative forms of media may impair our ability to grow or maintain revenue levels in core and new businesses; (c) the separation of our publishing businesses from our Media and Digital Segments may not achieve some or all of the anticipated benefits; (d) the value of our assets or operations may be diminished if our information technology systems fail to perform adequately or if we are the subject of a data breach or cyber attack; (e) volatility in the U.S. credit markets could significantly impact our ability to obtain new financing to fund our operations and strategic initiatives or to refinance our existing debt at reasonable rates as it matures; (f) volatility in global financial markets directly affects the value of our pension plan assets and liabilities; (g) changes in the regulatory environment could encumber or impede our efforts to improve operating results or the value of assets; (h) our strategic acquisitions, investments and partnerships could pose various risks, increase our leverage and may significantly impact our ability to expand our overall profitability; (i) the value of our existing intangible assets may become impaired, depending upon future operating results; and (j) adverse results from litigation or governmental investigations can impact our business practices and operating results.

These forward-looking statements are subject to certain risks and uncertainties that could cause actual results and events to differ materially from those anticipated in the forward-looking statements. We are not responsible for updating or revising any forward-looking statements, whether the result of new information, future events or otherwise, except as required by law.