TEGNA INC. (NYSE:TGNA) Files An 8-K Regulation FD Disclosure
Item7.01 Regulation FD Disclosure
On May17, 2017, TEGNA Inc. (TEGNA) issued a press release related
to the investor and analyst presentation held at 10:00 a.m. that
morning announcing TEGNAs strategy for growth and innovation,
stand-alone financial outlook and capital structure following the
previously announced proposed spin-off (the Spin-Off) of Cars.com Inc.
(Cars.com). A copy of the press release is attached hereto as
Exhibit 99.1.
The press release
included 2016 revenue on a pro forma basis. The pro forma basis
represented 2016 TEGNA reported GAAP revenues excluding Cars.com
revenues. This non-GAAP information was included, as the Spin-Off
is expected to be completed on May31, 2017, and therefore,
provides useful information to investors and other stakeholders
allowing them to see what 2016 revenues would have been for
TEGNAs ongoing businesses. The below table reconciles TEGNAs GAAP
2016 revenues to its 2016 revenue on a pro forma basis (in
billions of dollars):
| Yearended December31,2016 | ||||
|
Operating Revenues – GAAP basis |
$ | 3.3 | ||
|
Cars.com 2016 Operating Revenues |
$ | 0.6 | ||
|
Operating Revenues – Pro forma basis |
$ | 2.7 | ||
The information
contained in this Current Report on Form 8-K (including Exhibit
99.1) is being furnished to Item 7.01 of Form 8-K and shall not
be deemed filed with the U.S. Securities and Exchange Commission
(SEC) for purposes of Section18 of the Securities Exchange Act of
1934, as amended (the Exchange Act), or otherwise subject to the
liabilities of that section, nor shall such information be
incorporated by reference into any filing made by the Company
under the Securities Act of 1933, as amended, or the Exchange
Act, regardless of general incorporation language in such filing,
unless expressly incorporated by reference in such filing.
The furnishing of
the information in this Item 7.01 is not intended to, and does
not, constitute a representation that such furnishing is required
by Regulation FD or that the information in this Item 7.01 or the
exhibit hereto is material information that is not otherwise
publicly available.
Item9.01
Financial Statements and Exhibits.
(d)
Exhibits
|
Exhibit |
Description |
|
| 99.1 | Press Release of TEGNA Inc., dated May17, 2017. |
About TEGNA INC. (NYSE:TGNA)
TEGNA Inc., formerly Gannett Co., Inc., includes a portfolio of media and digital businesses that provide content. The Company operates through two segments: TEGNA Media (Media Segment) and TEGNA Digital (Digital Segment). As of December 31, 2015, the Company’s media business included 46 television stations operating in 38 markets, offering television programing and digital content. Its Media segment includes core advertising, including local and national non-political advertising; political advertising during elections; retransmission that represents satellite and cable networks, and telecommunications companies to carry its television signals; digital that includes digital marketing services and advertising on the stations’ Websites, tablet and mobile products, and other services, such as production of programing from third parties and production of advertising material. Its Digital segment consists of business units, including Cars.com, CareerBuilder and G/O Digital. TEGNA INC. (NYSE:TGNA) Recent Trading Information
TEGNA INC. (NYSE:TGNA) closed its last trading session up +0.06 at 22.07 with 8,839,787 shares trading hands.
