TEGNA shareholders approve board proposals and director elections

TYSONS, Va. - TEGNA Inc. (NYSE:TGNA), a media company with a "GREAT" financial health score according to InvestingPro, saw shareholders approve all proposals presented by the Board of Directors at the company’s annual meeting held today. The board’s chair Howard D. Elias, CEO Mike Steib, and eight independent directors were re-elected for one-year terms.

Karen H. Grimes stepped down from her role on the board after five years of service, coinciding with the annual meeting. The newly elected directors will serve until the 2026 Annual Meeting.

In addition to the board elections, TEGNA’s shareholders approved the executive compensation on an advisory basis and confirmed PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year 2025.

TEGNA, a media company with a portfolio of 64 television stations across 51 U.S. markets, is known for delivering local news and services. The company emphasizes its commitment to fostering a sustainable future for local journalism, reaching an average monthly audience of over 100 million people through various platforms, including web, mobile apps, streaming, and linear television.

This report is based on a press release statement from TEGNA Inc.

In other recent news, TEGNA Inc. reported its first-quarter 2025 earnings, exceeding analysts’ expectations with an earnings per share (EPS) of $0.37, compared to the forecasted $0.32. The company’s revenue reached $680 million, slightly above the anticipated $677.48 million, despite a 5% year-over-year decline. Guggenheim has responded to these results by raising TEGNA’s stock price target from $20.00 to $22.00, maintaining a Buy rating due to the company’s strong financial performance and strategic growth initiatives. TEGNA’s management has expressed interest in exploring mergers and acquisitions, particularly in light of potential deregulation, which could open up new opportunities. Additionally, TEGNA announced a quarterly dividend of 12.5 cents per share, reflecting its commitment to returning value to shareholders. The company plans to return 40% to 60% of its free cash flow to shareholders over the next two years while maintaining a net leverage ratio of around 3.0 times. Looking forward, Guggenheim has adjusted its full-year 2025 EBITDA forecast for TEGNA from $545 million to $591 million, indicating confidence in TEGNA’s financial trajectory.

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