Gannett Co., Inc. has chosen TEGNA as the name for its new broadcasting and digital company, the company said on Tuesday. Gannett is in the process of creating two publicly traded companies: one exclusively focused on its broadcasting and digital businesses, and the other on its publishing business and affiliated digital assets. TEGNA will trade on the New York Stock Exchange under the ticker symbol TGNA.
“We are pleased to announce the name of our new broadcasting and digital company, which combines one of the largest, most geographically diverse broadcasters in the U.S. with incredibly strong marketing solutions organizations,” said Gracia Martore, Gannett president and CEO, in a statement. “TEGNA is a nod to the more than 100 year-old history of Gannett. 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, businesses and communities to grow and thrive.”
TEGNA’s broadcasting business will include 46 television stations and be the largest independent station group of major network affiliates in the top 25 markets. The TV stations will reach approximately one-third of all television households nationwide and represent the #1 NBC affiliate group, #1 CBS affiliate group and #4 ABC affiliate group (excluding owner-operators).
Cars.com is the leading online destination for automotive consumers with over 30 million monthly visits to its Web properties. CareerBuilder, a global leader in human capital solutions, provides services ranging from labor market intelligence to talent management software and other recruitment tools. It is the largest online job site in North America, measured both by traffic and revenue, and has a presence in more than 60 markets worldwide.
The publishing business and its affiliated digital assets will retain the Gannett name once the spin is completed mid-2015. Gannett will continue to trade on the NYSE under the ticker symbol GCI.
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