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TYSONS, Va. - TEGNA Inc. (NYSE:TGNA), a media company with excellent financial health and a perfect Piotroski Score of 9 according to InvestingPro, announced the appointment of two new vice presidents to its digital leadership team. Melissa Zimyeski has been named vice president of product, and Mat Yurow will serve as vice president of growth. Both will report directly to chief experience officer Dhanusha Sivajee. The company, currently trading near its 52-week high with a market capitalization of $3 billion, shows strong operational efficiency with a gross profit margin of 43%.
Zimyeski, with her extensive background in digital and consumer product management, will oversee TEGNA’s consumer digital products, which include over 50 streaming apps, mobile applications, and websites associated with the company’s local media brands. She will lead the company’s digital transformation with a focus on sustaining the future of local news.
Yurow will be responsible for driving audience and revenue growth across TEGNA’s digital platforms. His experience includes significant roles at The New York Times, where he contributed to audience development, product strategy, and commerce initiatives, as well as at Tripadvisor, where he managed strategy for various direct-to-consumer products.
Both Zimyeski and Yurow bring a wealth of experience to TEGNA. Zimyeski joins the company from the Mayo Clinic, where she served as senior vice president and chair of product and experience. Prior to that, she held senior roles at Polestar, AKQA, and Droga5, and began her career at NBC Universal. She is also actively involved with the Connecting Mothers Initiative and advises the technology startup Blue Clay Health.
Yurow’s background includes building a growth marketing organization at Thrasio and leading consumer revenue product launches at Tripadvisor. He began his career with stints at AOL, The Huffington Post, and Bloomberg News, focusing on audience development and engagement.
TEGNA’s CEO praised the appointments, stating that Zimyeski’s experience in building user-centric products and Yurow’s expertise in expanding digital footprints will play crucial roles in enhancing the company’s digital strategy and delivering exceptional experiences to local communities.
TEGNA Inc. operates 64 television stations in 51 U.S. markets and reaches an average monthly audience of over 100 million people through web, mobile, streaming, and linear television platforms. The company generated $3.1 billion in revenue over the last twelve months, maintaining strong liquidity with a current ratio of 2.92. This announcement is based on a press release statement from TEGNA Inc.For detailed insights into TEGNA’s financial performance and growth potential, including access to comprehensive Pro Research Reports covering 1,400+ top stocks, visit InvestingPro.
In other recent news, TEGNA Inc. reported its fourth-quarter earnings for 2024, which revealed a slight miss in earnings per share (EPS), posting $1.21 against the forecasted $1.26. Despite the earnings miss, the company’s revenue for the quarter was $871 million, below the anticipated $884.71 million, but still marking a significant 20% increase year-over-year. TEGNA’s full-year revenue reached $3.1 billion, reflecting a 7% growth from the previous year. The company is focusing on digital innovation and operational cost savings, which are expected to enhance efficiency and profitability. Benchmark analysts maintained a Buy rating on TEGNA with a $21 price target, citing factors like the appointment of new CEO Mike Steib and potential regulatory relief discussions as reasons for investor optimism. The analysts suggested that the new CEO’s cost management initiatives might lead to further cost savings and potential long-term revenue growth. Additionally, TEGNA reaffirmed its adjusted free cash flow guidance for 2024-2025, projecting between $900 million and $1.1 billion. The company anticipates a 4-7% year-over-year decline in total revenue for the first quarter of 2025.
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