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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Tegna
Tegna (TGNA) investor relations material
Tegna has been delisted
Tegna Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary2 Mar, 2026
Executive summary
Achieved or exceeded all previously announced full-year 2025 guidance metrics.
On track to complete acquisition by Nexstar Media Group in the second half of 2026, pending regulatory approvals.
Shareholders approved the $6.2 billion Nexstar acquisition; closing expected by H2 2026.
Financial highlights
Q4 2025 revenue declined 19% year-over-year to $706 million, mainly due to lower political advertising.
Full-year 2025 revenue fell 13% to $2.71 billion, reflecting cyclical political ad declines and lower AMS revenue.
Q4 GAAP net income was $56 million; non-GAAP net income was $82 million.
Full-year GAAP net income was $220 million; non-GAAP net income was $267 million.
Adjusted EBITDA for Q4 dropped 48% to $161 million; full-year Adjusted EBITDA down 38% to $579 million.
Q4 Adjusted free cash flow was $93 million; full-year Adjusted free cash flow was $316 million.
Returned $20 million in Q4 and $80 million in 2025 to shareholders via dividends.
Outlook and guidance
No forward-looking financial guidance provided due to pending merger with Nexstar.
Regular quarterly dividends expected to continue until transaction close.
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Latest events from Tegna
- Shareholders will vote on directors, auditor ratification, and executive pay amid strategic transformation.TGNA
Proxy Filing - Shareholders to vote on $22.00 per share all-cash merger with Nexstar; board recommends approval.TGNAProxy Filing
- Nexstar to acquire TEGNA for $22/share in a $6.2B deal, boosting scale and local news reach.TGNAProxy Filing
- Shareholders to vote on $22.00 per share cash merger with Nexstar; Board recommends approval.TGNAProxy Filing
- Merger with Nexstar targets digital growth and local news sustainability, pending shareholder approval.TGNAProxy Filing
- Shareholders to vote virtually on directors, auditor ratification, and executive pay May 21, 2025.TGNAProxy Filing
- Q3 revenue up 13%, net income up 53%, with record political ads and strong capital returns.TGNAQ3 2024
- Q2 revenue declined 3%, but political ad surge and guidance reaffirmation support outlook.TGNAQ2 2024
- Strong 2024 results with robust cash flow, cost savings, and shareholder returns.TGNAQ4 2024
Tegna
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Frequently asked questions
Tegna Inc. is a media company that operates within the broadcast, digital media, and marketing services sectors. It was formed from the split of the Gannett Company in 2015, focusing on the more profitable broadcast television and digital media divisions. Tegna owns approximately 65 television stations and two radio stations across over 50 markets, reaching around 40% of US television households. Tegna is headquartered in Tysons, Virginia, and its shares are listed on the NYSE.