Tegna

To serve the greater good of our communities by being the undisputed leader in local content and community engagement.

Tegna SWOT Analysis

Updated: October 4, 2025 • 2025-Q4 Analysis

How to Use This Analysis

This analysis for Tegna was created using Alignment.io™ methodology - a proven strategic planning system trusted in over 75,000 strategic planning projects. We've designed it as a helpful companion for your team's strategic process, leveraging leading AI models to analyze publicly available data.

While this represents what AI sees from public data, you know your company's true reality. That's why we recommend using Alignment.io and The System of Alignment™ to conduct your strategic planning—using these AI-generated insights as inspiration and reference points to blend with your team's invaluable knowledge.

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The Tegna SWOT analysis reveals a company at a pivotal crossroads. Its formidable strengths in retransmission revenue and market-leading station footprint provide a stable cash-flow foundation, crucial for shareholder returns. However, this stability is juxtaposed against significant weaknesses, namely a high debt load and vulnerability to the secular decline of linear television. The key strategic imperative is to leverage its core assets to aggressively pursue growth opportunities in streaming (Premion, FAST channels) and new ad categories like sports betting. This digital acceleration is not just an opportunity but a necessity to mitigate the existential threats of cord-cutting and big tech's encroachment on local advertising. The conclusion correctly prioritizes a dual strategy: fortify the profitable core while decisively pivoting capital and focus toward a sustainable, digitally-led future. Success will be defined by the speed and execution of this pivot.

Nexstar Media Group Sinclair Broadcast Group Gray Television Hearst Television Fox Corporation

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To serve the greater good of our communities by being the undisputed leader in local content and community engagement.

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Strengths

RETRANSMISSION: Stable, high-margin revenue from MVPD agreements (49% of 2023 rev)
FOOTPRINT: Top #1 or #2 stations in 86% of its 51 markets, reaching 39% of US HHs
POLITICAL: Dominant political ad revenue platform, key for even-year performance
PREMION: High-growth OTT ad platform, a key diversifier from linear business
CAPITAL: Disciplined debt reduction and share buybacks post-failed acquisition

Weaknesses

DEBT: Significant total debt load (~$3.0B) constrains strategic M&A options
CORE ADS: Core advertising revenue ex-political is soft and highly cyclical
SUBSCRIBERS: Ongoing erosion of pay-TV subscribers pressures retrans growth rate
OVERHANG: Failed Standard General deal created management distraction & uncertainty
DEPENDENCE: High reliance on automotive advertising, a volatile spending category

Opportunities

SPORTS BETTING: Rapid legalization in new states creates a major new ad category
STREAMING: Expansion of local news FAST channels on Roku, Tubi, Freevee, etc.
NEXTGEN TV: ATSC 3.0 enables interactive ads, data casting, and new services
DATA: Leverage first-party viewer data for advanced ad products beyond Premion
ACQUISITIONS: Potential for smaller, strategic station acquisitions in key markets

Threats

RECESSION: Economic slowdown disproportionately impacts local ad spend (auto/retail)
CORD-CUTTING: Accelerating decline of pay-TV bundle threatens core revenue streams
COMPETITION: Big tech (Google/Meta) captures a growing share of local ad dollars
REGULATION: Potential for unfavorable FCC rules on ownership or retrans negotiations
MEASUREMENT: Shift away from Nielsen to alternative currencies creates uncertainty

Key Priorities

ACCELERATE DIGITAL: Drive Premion/FAST growth to outpace linear advertising decline
FORTIFY CORE: Maximize high-margin political and retransmission revenue streams
INNOVATE MONETIZATION: Capitalize on sports betting and NextGen TV opportunities
OPTIMIZE CAPITAL: Continue aggressive debt reduction while planning for future M&A

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Tegna OKR

Updated: October 4, 2025 • 2025-Q4 Analysis

The Tegna OKR plan provides a clear, focused roadmap for navigating its strategic pivot. The objectives are directly and logically derived from the SWOT analysis, creating a 'golden thread' from insight to execution. The plan wisely balances offense and defense: 'ACCELERATE DIGITAL' and 'PIONEER REVENUE' push into future growth areas, while 'MAXIMIZE CORE' and 'STRENGTHEN FOUNDATION' protect the profitable legacy business. The Key Results are generally strong—specific, measurable, and outcome-oriented. This is not just a plan; it's a mandate for transformation, equipping the leadership team with the clarity needed to allocate resources effectively and drive accountability toward a multi-platform future.

Nexstar Media Group Sinclair Broadcast Group Gray Television Hearst Television Fox Corporation

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To serve the greater good of our communities by being the undisputed leader in local content and community engagement.

ACCELERATE DIGITAL

Become a digital-first leader in local media.

PREMION: Grow Premion OTT advertising revenue by 20% by expanding into new SMB and agency accounts.
FAST: Launch 15 new local news FAST channels on Roku and Tubi, achieving 5 million monthly viewing hours.
AUDIENCE: Increase monthly active users across all digital properties by 15% through enhanced SEO/app engagement.
AI: Pilot an AI-powered content personalization engine on our top 5 station apps to increase session time by 10%.

MAXIMIZE CORE

Dominate our core broadcast revenue streams.

POLITICAL: Secure a record-breaking >$500M in political advertising revenue for the 2024 election cycle.
RETRANS: Successfully renegotiate 30% of subscriber households with zero programming disruptions.
AUTO: Recapture 10% of lost automotive ad revenue by launching new data-driven attribution products for dealers.
RATINGS: Maintain a #1 or #2 local news ranking in 85% of our markets during key sweeps periods.

PIONEER REVENUE

Innovate beyond traditional advertising spots.

SPORTS BETTING: Increase sports betting ad revenue by 50% by signing partnerships with two new sportsbook operators.
NEXTGEN TV: Launch three interactive ad campaigns using ATSC 3.0 technology in our top 10 NextGen TV markets.
DATA: Develop and launch a first-party data product for advertisers, securing 25 beta customers by year-end.
COMMERCE: Pilot a new 'local deals' e-commerce feature on 5 station websites, generating $1M in revenue.

STRENGTHEN FOUNDATION

Optimize our capital and operational structure.

DEBT: Reduce total debt by $300 million, achieving a net leverage ratio below 3.5x by the end of the year.
CAPEX: Execute a $150 million share repurchase program to return capital to shareholders.
EFFICIENCY: Implement AI-driven automation in master control to reduce operational expenses by 5% across 10 stations.
TALENT: Decrease employee turnover in key digital and sales roles by 15% through new training/retention programs.

METRICS

Digital Revenue as a Percentage of Total Revenue
Net Leverage Ratio
Total Shareholder Return (TSR)

VALUES

Inclusion
Integrity
Innovation
Impact
Results

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Tegna Retrospective

AI-Powered Insights

Claude

Gemini

GPT

Tegna Q1 2024 Earnings Report and Investor Presentation
Tegna's official corporate and investor relations websites
Yahoo Finance for financial metrics and market data
Industry reports on broadcast television and OTT advertising trends

Nexstar Media Group Sinclair Broadcast Group Gray Television Hearst Television Fox Corporation

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To serve the greater good of our communities by being the undisputed leader in local content and community engagement.

Toggle Theme

What Went Well

POLITICAL: Political ad revenue exceeded expectations in the last cycle
RETRANS: Successfully renewed key retransmission agreements with favorable terms
PREMION: Continued double-digit growth in the high-margin OTT ad business
DEBT: Made significant progress on debt reduction and leverage targets
COSTS: Maintained strong cost discipline across station operations

Not So Well

CORE ADS: National and local core advertising remains soft amid economic uncertainty
SUBSCRIBERS: Pay-TV subscriber declines continued, slightly pressuring retrans
AUTO: Automotive advertising category has not fully recovered to pre-pandemic levels
RATINGS: Facing increased competition for audience attention from digital sources
M&A: Failed acquisition by Standard General created a period of uncertainty

Learnings

DIVERSIFICATION: Digital revenue streams (Premion) are key to offsetting linear softness
CYCLICALITY: Business performance is heavily tied to biennial political cycles
LEVERAGE: A strong balance sheet is critical for navigating economic headwinds
LOCALISM: Hyper-local content remains the key differentiator and driver of trust
EFFICIENCY: Continuous operational efficiency is needed to protect margins

Action Items

SALES: Intensify sales focus on growing categories like sports betting and services
DIGITAL: Accelerate rollout of FAST channels and other digital distribution points
CAPITAL: Continue prioritizing debt paydown and opportunistic share repurchases
PRODUCT: Enhance digital products (apps, websites) to increase user engagement
CONTENT: Double down on investigative journalism to reinforce brand and trust

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Organization	SWOT Analysis	OKR Plan	Top 6	Retrospective

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Tegna Market

AI-Powered Insights

Claude

Gemini

GPT

Tegna Q1 2024 Earnings Report and Investor Presentation
Tegna's official corporate and investor relations websites
Yahoo Finance for financial metrics and market data
Industry reports on broadcast television and OTT advertising trends

Founded: 2015 (Spin-off from Gannett)
Market Share: Top 4 broadcast group in the U.S., reaching ~39% of TV households.
Customer Base: Local/national advertisers, MVPDs (cable/satellite), political campaigns
Category:
Broadcasting, Media
SIC Code: 4833 Television Broadcasting Stations
NAICS Code: 515120 InformationT
Location: Tysons, Virginia
Zip Code: 22102
Congressional District: VA-11 FAIRFAX
Employees: 6200

Competitors

Nexstar Media Group Request Analysis

Sinclair Broadcast Group Request Analysis

Gray Television Request Analysis

Hearst Television Request Analysis

Fox Corporation Request Analysis

Products & Services

No products or services data available

Distribution Channels

Tegna Business Model Analysis

AI-Powered Insights

Claude

Gemini

GPT

Tegna Q1 2024 Earnings Report and Investor Presentation
Tegna's official corporate and investor relations websites
Yahoo Finance for financial metrics and market data
Industry reports on broadcast television and OTT advertising trends

Problem

Local businesses need effective ad reach
Communities need trusted local news
National brands need local market access

Solution

Multi-platform ad solutions (TV, OTT)
High-quality, award-winning journalism
Premion for targeted streaming ads

Key Metrics

Audience ratings and digital engagement
Advertising revenue (Core and Political)
Retransmission revenue and subscriber counts

Unique

Exclusive local content & investigations
Leading OTT advertising platform Premion
#1 or #2 rated news in most markets

Advantage

FCC broadcast licenses are high barriers
Decades of established community trust
Scale for network/MVPD negotiations

Channels

Direct sales force (local & national)
Broadcast TV, station websites/apps
Premion OTT platform, FAST channels

Customer Segments

Local & regional businesses (e.g., auto)
National advertisers
Political campaigns and issue groups

Costs

Content creation and newsgathering staff
Network affiliation and programming fees
Sales, engineering, and tech infrastructure

Tegna Product Market Fit Analysis

Updated: October 4, 2025

Tegna connects businesses with local communities at scale. It offers unparalleled reach through top-rated TV stations and the leading streaming ad platform, Premion. By aligning brands with trusted, award-winning journalism, Tegna leverages proprietary data to deliver targeted campaigns that drive measurable business results for advertisers, ensuring their message resonates with the right audience on any screen.

REACH: Access a massive, engaged local audience on any screen.

TRUST: Align your brand with the most trusted news source in town.

RESULTS: Leverage our data to drive measurable outcomes.

Before State

Disconnected from local community news
Fragmented, ineffective local ad reach
Unsure which news sources to trust

After State

Informed and engaged in local community
Targeted and efficient local ad campaigns
Relies on a trusted source for news

Negative Impacts

Missed critical local information/alerts
Wasted advertising spend on wrong audience
Vulnerability to misinformation

Positive Outcomes

Safer, more connected communities
Higher ROI for local business advertising
An informed and active citizenry

Key Metrics

Nielsen Ratings

Often #1/#2 in local news

Advertiser Retention Rate

Est. 85-90%

Premion Revenue Growth

~15% YoY

G2 Reviews

N/A (B2B media sales focus)

Digital User Growth

~5% YoY

Requirements

Consistent, high-quality journalism
Multi-platform content distribution
Advanced advertising tools and data

Why Tegna

Invest in investigative reporting teams
Launch FAST channels on all major CTV apps
Scale Premion's targeting capabilities

Tegna Competitive Advantage

Decades of built-up local brand trust
Exclusive access to network programming
Scale of 64 stations in 51 markets

Proof Points

Winner of 96 Regional Edward R. Murrow Awards
Premion reaches 9 of 10 U.S. CTV households
#1 CBS affiliate group, #2 NBC affiliate group

Tegna Market Positioning

AI-Powered Insights

Claude

Gemini

GPT

Tegna Q1 2024 Earnings Report and Investor Presentation
Tegna's official corporate and investor relations websites
Yahoo Finance for financial metrics and market data
Industry reports on broadcast television and OTT advertising trends

Strategic pillars derived from our vision-focused SWOT analysis

Own local news and content in top 50 markets.

Evolve from broadcaster to multi-platform.

Grow revenue beyond ads and retrans.

Maintain cost discipline and talent.

What You Do

Provide trusted local news and premium content to communities.

Target Market

Local audiences and advertisers in major US metropolitan markets.

Differentiation

Top-rated news stations in key markets
Leading OTT ad platform (Premion)
Strong investigative journalism brand

Revenue Streams

Advertising (local, national, political)
Retransmission consent fees
OTT advertising (Premion)
Digital advertising and subscriptions

Tegna Operations and Technology

AI-Powered Insights

Claude

Gemini

GPT

Tegna Q1 2024 Earnings Report and Investor Presentation
Tegna's official corporate and investor relations websites
Yahoo Finance for financial metrics and market data
Industry reports on broadcast television and OTT advertising trends

Company Operations

Organizational Structure: Corporate HQ with decentralized station-level management.
Supply Chain: Content from networks, syndicators, and original local production.
Tech Patents: Focus on broadcast tech like ATSC 3.0, not extensive patent portfolio.
Website: https://www.tegna.com

Top Clients

Board Members

Tegna Competitive Forces

Threat of New Entry

LOW: Extremely high barriers to entry due to FCC licensing regulations, high capital costs for equipment, and established brand loyalty.

Supplier Power

MODERATE-HIGH: Major networks (NBC, CBS) have significant leverage in affiliation negotiations. Tech suppliers (Nielsen) also hold power.

Buyer Power

MODERATE-HIGH: Large MVPDs (Comcast, Charter) exert significant pressure in retransmission consent negotiations. Advertisers have many choices.

Threat of Substitution

HIGH: Cord-cutting is a direct substitution. Audiences substitute local news with social media, and advertisers substitute with Google/Facebook.

Competitive Rivalry

HIGH: Intense rivalry among a few large broadcast groups (Nexstar, Sinclair) for ad dollars, retrans fees, and station acquisitions.

Analysis of AI Strategy

Updated: October 4, 2025 • 2025-Q4 Analysis

The Tegna AI SWOT analysis highlights a classic incumbent's dilemma: a wealth of proprietary assets (content, distribution) hamstrung by a deficit in technical talent and modern infrastructure. Tegna's greatest AI strength is its unique, localized video dataset, a potential moat if leveraged correctly. The most immediate opportunities lie in using AI for operational efficiency—automating back-office tasks to free up capital and human resources. Concurrently, piloting AI for content personalization and ad monetization through Premion is critical for future growth. The primary threats are existential: AI-driven misinformation could shatter its core asset of trust, while tech competitors could use AI to create insurmountable ad-tech advantages. The strategic path forward requires a pragmatic, phased approach: focus first on AI for efficiency and enablement, building capabilities and generating savings to fund more ambitious personalization and monetization initiatives.

Nexstar Media Group Sinclair Broadcast Group Gray Television Hearst Television Fox Corporation

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To serve the greater good of our communities by being the undisputed leader in local content and community engagement.

Strengths

CONTENT: Vast, exclusive archive of local video for training proprietary models
DISTRIBUTION: Direct access to 39% of US households to test AI-driven products
TRUST: Established brand trust can serve as a validator for AI-vetted news
DATA: Growing first-party data from digital properties to fuel AI algorithms
SALES: Large, experienced sales force to sell AI-powered ad products

Weaknesses

TALENT: Significant lack of in-house AI/ML engineering and data science talent
INFRASTRUCTURE: Legacy, siloed data systems not optimized for AI/ML workloads
CULTURE: A traditional media culture that may be resistant to AI-driven change
INVESTMENT: Limited R&D budget for speculative AI projects vs. pure tech firms
SPEED: Slower decision-making processes compared to nimble AI-native startups

Opportunities

AUTOMATION: AI-powered content summarization, script writing, and video editing
HYPER-PERSONALIZATION: Deliver individually tailored news streams and notifications
AD OPTIMIZATION: AI-driven dynamic ad pricing, placement, and creative generation
INSIGHTS: Use AI to analyze community trends and predict breaking news topics
EFFICIENCY: Automate master control, traffic, and other broadcast operations

Threats

DISINFORMATION: Proliferation of AI-generated fake news erodes local trust
COMPETITION: Tech giants using superior AI to dominate local ad targeting
COPYRIGHT: Legal challenges around using news content to train large language models
JOB DISPLACEMENT: Risk of alienating creative talent and unions through automation
BIAS: Potential for AI algorithms to perpetuate or amplify societal biases

Key Priorities

EFFICIENCY: Deploy AI to automate core broadcast and digital ad operations
PERSONALIZATION: Pilot AI-driven content recommendation engines on digital platforms
ENABLEMENT: Use AI tools to augment, not replace, journalists and content creators
MONETIZATION: Develop AI-powered advanced advertising products via Premion

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Tegna Financial Performance

AI-Powered Insights

Claude

Gemini

GPT

Tegna Q1 2024 Earnings Report and Investor Presentation
Tegna's official corporate and investor relations websites
Yahoo Finance for financial metrics and market data
Industry reports on broadcast television and OTT advertising trends

Profit: Net Income TTM: $479.5 million

Market Cap: $3.01 billion (as of June 2024)

Stock Performance

Annual Report: View Report

Debt: Total Debt: ~$3.0 billion (as of Q1 2024)

ROI Impact: Share buybacks and dividends are key returns

SWOT Index

Composite strategic assessment with 10-year outlook

/ 100

Market Leader

ICM Index

STRATEGIC ADVISOR ASSESSMENT

Tegna's Iconic Index reflects a solid Market Leader navigating significant industry transition. Its ambition is high (societal impact), but achievability is tempered by secular headwinds. The SWOT score is balanced, with strong legacy assets offset by serious threats from cord-cutting and big tech. The OKRs are strong and category-shaping, but not world-shaping. The Growth Multiplier is modest, reflecting a mature market and the challenge of pivoting a large, legacy business model toward a digital future.

SWOT Factors

Upside: 69.0 Risk: 75.0

OKR Impact

AI Leverage

Top 3 Strategic Levers

Aggressively scale Premion to become a primary growth engine.

Solve the AI talent and infrastructure gap to unlock data value.

Innovate NextGen TV monetization to create a new revenue pillar.

AI Disclosure

This report was created using the Alignment Method—our proprietary process for guiding AI to reveal how it interprets your business and industry. These insights are for informational purposes only and do not constitute financial, legal, tax, or investment advice.

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