Kroenke Sports & Entertainment extends broadcast deal with TEGNA

DENVER - Kroenke Sports & Entertainment (KSE) and TEGNA (NYSE:TGNA) have extended their broadcast agreement to air 20 Denver Nuggets and 20 Colorado Avalanche games for free over-the-air on Denver’s 9NEWS and My20 television stations for the upcoming season.

The renewed partnership will make 40 total games accessible to approximately 3.5 million people in the Denver metro area. Five Nuggets games and five Avalanche games will be broadcast simultaneously on 9NEWS, Denver’s NBC affiliate, while the remaining games will air on KTVD (My20). With a healthy current ratio of 1.47 and strong profitability metrics, TEGNA appears well-positioned to maintain its broadcast commitments.

"Last season’s overwhelming community response to this partnership reinforced our commitment to ensuring that the fans who support the Nuggets and Avs can cheer on their favorite teams even when they can’t be with us at Ball Arena," said Kevin Demoff, president of team and media operations at KSE.

According to the press release, last season’s broadcasts drew millions of viewers as the Nuggets advanced to the NBA’s Western Conference Semifinals and the Avalanche reached the NHL’s Stanley Cup Playoffs.

Mark Cornetta, senior vice president of media operations at TEGNA, noted that "the response last year exceeded our expectations."

Games will be produced by Altitude Sports and feature the same broadcast teams, including Chris Marlowe and Scott Hastings for Nuggets coverage, and Marc Moser and Mark Rycroft for Avalanche games.

Outside of the free broadcasts, Altitude Sports remains available throughout its nine-state territory on Xfinity TV, DIRECTV, DIRECTV STREAM, Fubo and various local providers. Fans can also stream all Altitude Sports broadcasts of Nuggets and Avalanche games through the Altitude+ app, available as a complimentary service for existing TV subscribers or direct-to-consumer for $199.99 per year or $19.95 per month.

The full schedule of games available on the stations can be found on 9NEWS.com. For investors interested in TEGNA’s financial outlook, InvestingPro analysis reveals the stock is currently undervalued, with 12 additional exclusive ProTips and comprehensive valuation metrics available to subscribers. The company’s strong return over the last three months and consistent dividend payments make it an interesting case study in the broadcasting sector.

In other recent news, TEGNA Inc. reported its second-quarter 2025 earnings with an impressive earnings per share (EPS) of $0.44, exceeding analyst expectations of $0.36 by 22.22%. This earnings surprise comes amid broader market concerns impacting investor sentiment. In a significant development, Nexstar Media Group announced it will acquire TEGNA for $6.2 billion in an all-cash transaction, valuing the company at $22 per share. The acquisition, approved by TEGNA’s board, is set to create a broadcasting entity with 265 full-power television stations across 44 states and the District of Columbia. Following this announcement, Guggenheim downgraded TEGNA’s stock rating from Buy to Neutral, removing its previous price target of $19. The downgrade reflects the changes brought about by the acquisition agreement. Additionally, TEGNA has appointed Brent Denny as president and general manager of its Indianapolis TV stations, WTHR and WALV, marking a leadership change aimed at revenue growth and strengthened advertiser relationships. These developments highlight a period of strategic transitions for TEGNA.

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