Gannett has chosen “Tegna” as the name for the publicly traded broadcasting and digital company that it will spin off mid-year. A second company, retaining the Gannett name, will hold the publishing businesses.
“Tegna is a nod to the more than 100 year-old history of Gannett,” said Gracia Martore, Gannett president and CEO. “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.”
Gannett did not divulge precisely how it came up with the name, which appears to be a loose anagram of “Gannett.”
With Dave Lougee as president, Tegna will include 46 television stations. Cars.com and CareerBuilder are key assets on the digital side.
Its ticker symbol on the New York Stock Exchange is TGNA.
Gannett reported broadcasting segment revenues in the first quarter of $396.8 million, up 3.8% over the same quarter of 2014. Overall operating revenues were $1.5 billion, an increase of 4.9% from Q1 2014.