Tags: gannett | tenga | name | change

Gannett's Tenga Name Change Spans Digital, Broadcast Assets

By    |   Wednesday, 22 Apr 2015 09:05 AM

Media giant Gannett, which owns USA Today and 46 televisions station around the country, is changing the name of its digital and broadcast division to Tegna while preparing to spin it off into a publicly traded company later this year.

According to the Washington Business Journal, no date was given for spinning off Tenga but it is believed it may happen by mid-2015. Gannett chief executive officer Garcia Martore said the new name is a play on the current Gannett name.

"Tegna is a nod to the more than 100-year-old history of Gannett," Martore said in a company statement. "While always reminding us where we came from, the new name also shows our innovative spirit and commitment to being a forward-looking company that empowers people, business and communities to grow and thrive."

Gannett announced it made $1.47 billion in first quarter revenues, compared to $1.4 billion a year ago, while its net income jumped four percent to $112.8 million, noted the Journal.

The company's digital revenue, which came from websites like Cars.com and CareerBuilder.com, jumped more than 85 percent and its broadcast revenue rose 3.8 percent, but revenue from its publishing division fell almost nine percent with an 11.3 percent drop in advertising sales.

"But get used to Tegna," wrote David Lieberman of Deadline.com. "It will have 46 TV stations that reach a third of all households, and be the No. 1 affiliate group for NBC and CBS, and No. 4 for ABC."

Numerous people commented on the name through social media.


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Media giant Gannett, which owns USA Today and 46 televisions station around the country, is changing the name of its digital and broadcast division to Tegna while preparing to spin it off into a publicly traded company later this year.
gannett, tenga, name, change
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2015-05-22
Wednesday, 22 Apr 2015 09:05 AM
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