MCLEAN, Va.--(BUSINESS WIRE)--May 30, 2017--
TEGNA Inc.’s (NYSE: TGNA) Board of Directors today declared a dividend
of 7 cents per share, payable on July 3, 2017 to stockholders of record
as of the close of business on June 9, 2017.
TEGNA plans to complete its previously announced spin-off of Cars.com on
May 31, 2017. Two publicly-traded companies will be created: TEGNA, the
largest owner of top 4 affiliates in the top 25 markets, and Cars.com, a
top online destination in the digital automotive marketplace. TEGNA also
continues to evaluate strategic alternatives for CareerBuilder.
The spin-off will be effected through a pro rata distribution of all
outstanding shares of Cars.com to TEGNA stockholders of record at the
close of business on May 18, 2017 (the “Record Date”). Stockholders will
retain their TEGNA shares and receive one share of Cars.com for every
three shares of TEGNA stock they owned on the Record Date. Cars.com
shares are expected to begin “regular way” trading on June 1, 2017 on
the New York Stock Exchange under the symbol CARS.
TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the
greater good of our communities. With 46 stations in 38 markets, TEGNA
delivers relevant content and information to consumers across platforms.
It is the largest owner of top 4 affiliates in the top 25 markets,
reaching approximately one-third of all television households
nationwide. Each month, TEGNA reaches 50 million adults on-air and 32
million across its digital platforms. TEGNA has been consistently
honored with the industry’s top awards, including Edward R. Murrow,
George Polk, Alfred I. DuPont and Emmy Awards. TEGNA delivers results
for advertisers through unparalleled and innovative solutions including
OTT local advertising network Premion,
centralized marketing resource Hatch, and G/O
Digital, a one-stop shop for local businesses to connect with
consumers through digital marketing. Across platforms, TEGNA tells
empowering stories, conducts impactful investigations and delivers
innovative marketing solutions. For more information, visit www.TEGNA.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170530006265/en/
Source: TEGNA Inc.
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