TEGNA begins regular way trading
MCLEAN, Va.--(BUSINESS WIRE)--Jun. 29, 2015--
TEGNA Inc. (NYSE: TGNA), formerly Gannett Co., Inc., today announced
that it has completed the previously announced spinoff of its publishing
business and will begin trading today as TEGNA on the New York Stock
Exchange under the symbol TGNA.
Gracia Martore, President and CEO of TEGNA, said, “Today is the
culmination of relentless focus and hard work over the past three and a
half years to transform our businesses. We have added significant scale
through the strategic buildup of high-performing broadcasting and
digital assets which are leaders in their respective industries. With
terrific competitive positioning in growing sectors, strong leadership
and a more sharply focused strategy, we are ready to hit the ground
running and we couldn’t be more excited about what the future holds.”
Gannett announced in August 2014 that it planned to separate into two
publicly traded companies: a broadcasting and digital company that will
operate under the name TEGNA and a publishing company that will retain
the name Gannett Co., Inc. Under the terms of the transaction, Gannett
shareholders retained their shares of Gannett, which was renamed TEGNA,
and also received one share of new Gannett for every two shares of
Gannett stock they owned on the record date of June 22, 2015. New
Gannett shares also begin “regular way” trading today on the NYSE under
the symbol GCI.
Greenhill & Co. acted as financial advisor on the separation transaction
and Wachtell, Lipton, Rosen & Katz acted as legal advisor.
About TEGNA
TEGNA Inc. (NYSE: TGNA), formerly Gannett Co., Inc., is comprised of a
dynamic portfolio of media and digital businesses that provide content
that matters and brands that deliver. TEGNA reaches more than 90 million
Americans and delivers highly relevant, useful and smart content, when
and how people need it, to make the best decisions possible. TEGNA Media
includes 46 television stations (including those serviced by TEGNA) and
is the largest independent station group of major network affiliates in
the top 25 markets, reaching approximately one-third of all television
households nationwide. TEGNA Digital is comprised of Cars.com, the
leading online destination for automotive consumers, CareerBuilder, a
global leader in human capital solutions, and other powerful brands such
as G/O Digital, Clipper and Sightline Media Group. For more information,
visit www.TEGNA.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150629005605/en/
Source: TEGNA Inc.
TEGNA Inc.
For media inquiries, contact:
Jeremy Gaines
Vice
President, Corporate Communications
703-854-6049
jmgaines@tegna.com
or
Sard
Verbinnen & Co.
Stephanie Pillersdorf/Pamela Blum/Dan Goldstein
212-687-8080
or
For
investor inquiries, contact:
Jeffrey Heinz
Vice President,
Investor Relations
703-854-6917
jheinz@tegna.com