Careers at Tegna
Tegna’s mission is to deliver highly relevant, useful, and smart content – when and how people need it – to make the best decisions possible.
Tegna is a broadcast and digital media firm. The company operates two reportable business segments:
- Tegna Media – Includes 46 TV stations in 38 markets
- Tegna Digital – Includes the CareerBuilder and Cars.com businesses
Gannett Co., Inc. is a media and marketing solutions firm that was founded in 1906 by Frank E. Gannett and some of his associates. The company attainec success and went public in 1967. In 2014 it acquired Cars.com and Belo Corporation, doubling the scale of its Media and Digital segments.
In late 2014 Gannett revealed that it planned to separate into two independent public firms – one focused on its publishing and newspaper business, which would keep the Gannett name, and the other focused on the more vibrant and profitable broadcasting and digital businesses.
In April 2015, Gannett announced that the new broadcasting/digital company would be called Tegna, a partial anagram of “Gannett“. It is the legal successor to the original Gannett, with the original Gannett now considered a “new“ company. In June 2015, the spin-off was fully completed.
Benefits at Tegna
Business model of Tegna
Tegna has a mass market business model, with no significant differentiation between customers. The company targets its offering at consumers of television broadcasts and the Internet.
Tegna offers two primary value propositions: accessibility and brand/status.
The company creates accessibility by offering a wide variety of options to a large number of people. It operates 46 different television stations that reach one-third of all TV households in the U.S. Furthermore, its CareerBuilder website has a presence in over 60 markets worldwide. Tegna also offers accessibility by connecting different parties. Its G/O Digital is a solution that enables local businesses to link with consumers across 110 markets through localized digital marketing.
The company has established a strong brand as a result of its scope. It reaches 90 million Americans each month through its various properties. It holds several titles of success, including the following;
- Largest independent station group of major network affiliates in the top 25 markets
- The #1 NBC affiliate group, #1 CBS affiliate group, and #4 ABC affiliate group
- Owner of Cars.com, the top automotive website for consumers with more than 30 million monthly visits to its web properties
- Owner of CareerBuilder, the largest job website in North America in terms of both revenues and visitor traffic
Tegna has also won many national honors, including Edward R. Murrow, George Foster Peabody, Alfred I. DuPont, National Headliner, George Polk, and Emmy awards.
Tegna’s main channels are its TV stations and its websites, through which it acquires visitors and viewers. The company promotes its offering through its social media pages and online/TV/print advertising.
Tegna’s customer relationship is primarily of a self-service nature. Customers utilize its products while having limited interaction with employees. That said, there is a personal assistance component in the form of phone support.
Tegna’s business model entails producing and distributing media content for its broadcast and digital properties. It also distributes content from third parties.
Tegna has the following types of partners:
- Network Partners – The company pays programming fees to networks in exchange for news, sports, and primetime programming; 40 of its 46 stations have affiliation agreements with one of the four leading broadcast networks
- Service Providers – The company forms partnerships with organizations that provide various business services – for example, it has a high-profile alliance with CrowdTangle, a social analytics firm whose platform enables Tegna stations to monitor breaking news on social media
Tegna’s main resources are its staff of technology employees that maintain its various media properties and its staff of content creators (writers, artists, etc.) that produce the media for those platforms. The company also depends on customer service personnel to provide support and sales/marketing employees to promote its offerings.
Tegna has a cost-driven structure, aiming to minimize expenses through significant automation and low-price value propositions. Its biggest cost drivers are sales/marketing and administration expenses, both fixed costs. Another major driver is cost of sales and operating expenses.
Tegna has three revenue streams:
Advertising Revenues – These are revenues generated from the following:
- Fees charged for core advertising (national and local non-political advertising) and political advertising, which is typically driven by elections
- Fees charged for digital marketing services provided to stations for their websites
- Sales of online subscription advertising products (on Cars.com and CareerBuilder)
Retransmission Revenues – Revenues generated from fees charged to cable and satellite operators and telecommunications firms to carry Tegna’s TV signals on their systems
Service Revenues – Revenues generated from fees charged to advertisers for services such as programming production from third parties
info: Grace earned a double major in History and Political Science at Wellesley College. She previously served as Chief Operating Officer, Chief Financial Officer, and SVP of Finance at Gannett. She has more than 12 years of experience in the banking industry.
info: Victoria earned a B.A. in English from the University of Virginia and an MBA from American University. She previously served as CFO and President of Global Business Services at AES and as Acting CFO and Treasurer of MCI.
info: Nicholas earned an undergraduate degree from Brown University and an MBA from The Wharton School at the University of Pennsylvania. He previously served as President of Digital at NBCUniversal, CEO of Plum TV, and COO of Programming for IAC.
info: Todd earned a B.A. with Honors from Swarthmore College and a J.D. magna cum laude from Boston University School of Law. He previously served as an associate at the law firm of Arent Fox.
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