v3.26.1
Segment Data (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Breakdown of Selected Financial Information for Reportable Broadcast and TEGNA Segments and Reconciliation of Segment's Profit to Income from Operations

The following table sets forth a breakdown of selected financial information for our reportable Broadcast and TEGNA segments and a reconciliation of their profit to income from operations (in millions):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Broadcast Segment:

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

$

1,236

 

 

$

1,150

 

 

$

2,459

 

 

$

2,319

 

Programming and related expenses (1)

 

 

(553

)

 

 

(547

)

 

 

(1,102

)

 

 

(1,090

)

Selling, general and administrative expenses (1)

 

 

(178

)

 

 

(178

)

 

 

(358

)

 

 

(359

)

Amortization of broadcast rights (1)

 

 

(14

)

 

 

(15

)

 

 

(29

)

 

 

(31

)

Broadcast segmentʼs profit

 

 

491

 

 

 

410

 

 

 

970

 

 

 

839

 

TEGNA Segment:

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

 

697

 

 

 

-

 

 

 

803

 

 

 

-

 

Programming and related expenses (1)

 

 

(379

)

 

 

-

 

 

 

(436

)

 

 

-

 

Selling, general and administrative expenses (1)

 

 

(123

)

 

 

-

 

 

 

(140

)

 

 

-

 

Amortization of broadcast rights (1)

 

 

(10

)

 

 

-

 

 

 

(11

)

 

 

-

 

TEGNA segmentʼs profit

 

 

185

 

 

 

-

 

 

 

216

 

 

 

-

 

Total segmentsʼ profit

 

 

676

 

 

 

410

 

 

 

1,186

 

 

 

839

 

Other segmentsʼ loss, net

 

 

(25

)

 

 

(19

)

 

 

(40

)

 

 

(61

)

Corporate (unallocated)

 

 

(78

)

 

 

(51

)

 

 

(145

)

 

 

(102

)

Depreciation and amortization expense (2)

 

 

(158

)

 

 

(118

)

 

 

(279

)

 

 

(234

)

Transaction and other one-time expenses

 

 

(53

)

 

 

(10

)

 

 

(95

)

 

 

(10

)

Miscellaneous

 

 

-

 

 

 

1

 

 

 

-

 

 

 

-

 

Income from operations

 

$

362

 

 

$

213

 

 

$

627

 

 

$

432

 

 

(1)
The expenses included in the measure of our reportable segments’ profit are as follows:
•
Programming and related expenses – primarily include fees incurred under network affiliation agreements and operating costs to produce and air local news.
•
Selling, general and administrative expenses – primarily include (i) salaries, benefits and payroll taxes, commission, professional fees, travel and software license fees incurred by sales teams and (ii) salaries, benefits and payroll taxes, group insurance and office rental costs incurred in managing the segment’s business units.
•
Amortization of broadcast rights – the amortization of license fees for acquired programs from national program syndicators and certain production companies.
(2)
Includes depreciation of property and equipment and amortization of intangible assets. Excludes amortization of broadcast rights.
Summary of Disaggregation of Revenue

The following tables present the disaggregation of the Company’s revenue by source (in millions):

 

 

Reportable Segments

 

 

Other

 

 

Corporate

 

 

 

 

 

 

 

Three Months Ended June 30, 2026

 

Broadcast

 

 

TEGNA

 

 

Segments

 

 

(unallocated)

 

 

Eliminations(1)

 

 

Consolidated

 

Distribution

 

$

739

 

 

$

362

 

 

$

34

 

 

$

-

 

 

$

(19

)

 

$

1,116

 

Advertising

 

 

488

 

 

 

331

 

 

 

43

 

 

 

-

 

 

 

-

 

 

 

862

 

Other

 

 

9

 

 

 

4

 

 

 

2

 

 

 

1

 

 

 

(1

)

 

 

15

 

Total net revenue

 

$

1,236

 

 

$

697

 

 

$

79

 

 

$

1

 

 

$

(20

)

 

$

1,993

 

 

 

 

Reportable Segments

 

 

Other

 

 

Corporate

 

 

 

 

 

 

 

Six Months Ended June 30, 2026

 

Broadcast

 

 

TEGNA

 

 

Segments

 

 

(unallocated)

 

 

Eliminations(1)

 

 

Consolidated

 

Distribution

 

$

1,505

 

 

$

416

 

 

$

70

 

 

$

-

 

 

$

(37

)

 

$

1,954

 

Advertising

 

 

937

 

 

 

382

 

 

 

90

 

 

 

-

 

 

 

-

 

 

 

1,409

 

Other

 

 

17

 

 

 

5

 

 

 

3

 

 

 

2

 

 

 

(1

)

 

 

26

 

Total net revenue

 

$

2,459

 

 

$

803

 

 

$

163

 

 

$

2

 

 

$

(38

)

 

$

3,389

 

 

 

 

Reportable Segments

 

 

Other

 

 

Corporate

 

 

 

 

 

 

 

Three Months Ended June 30, 2025

 

Broadcast

 

 

TEGNA

 

 

Segments

 

 

(unallocated)

 

 

Eliminations(1)

 

 

Consolidated

 

Distribution

 

$

718

 

 

$

-

 

 

$

28

 

 

$

-

 

 

$

(13

)

 

$

733

 

Advertising

 

 

423

 

 

 

-

 

 

 

52

 

 

 

-

 

 

 

-

 

 

 

475

 

Other

 

 

9

 

 

 

-

 

 

 

12

 

 

 

2

 

 

 

(2

)

 

 

21

 

Total net revenue

 

$

1,150

 

 

$

-

 

 

$

92

 

 

$

2

 

 

$

(15

)

 

$

1,229

 

 

 

 

Reportable Segments

 

 

Other

 

 

Corporate

 

 

 

 

 

 

 

Six Months Ended June 30, 2025

 

Broadcast

 

 

TEGNA

 

 

Segments

 

 

(unallocated)

 

 

Eliminations(1)

 

 

Consolidated

 

Distribution

 

$

1,465

 

 

$

-

 

 

$

55

 

 

$

-

 

 

$

(25

)

 

$

1,495

 

Advertising

 

 

834

 

 

 

-

 

 

 

100

 

 

 

-

 

 

 

-

 

 

 

934

 

Other

 

 

20

 

 

 

-

 

 

 

11

 

 

 

5

 

 

 

(3

)

 

 

33

 

Total net revenue

 

$

2,319

 

 

$

-

 

 

$

166

 

 

$

5

 

 

$

(28

)

 

$

2,462

 

(1) The elimination of distribution revenue represents intersegment revenue generated by Other segments for services provided to the Broadcast segment.