Gannett has split its publishing and broadcasting divisions into two separate companies, the media conglomerate announced Monday.
The broadcasting and digital division, called Tegna Inc., will encompass the company’s television stations and websites. The company, which owns 46 TV stations and is the number one affiliate operator for NBC and CBS, and the fourth biggest operator for ABC. Tegna begins trading on the New York Stock Exchange under “TGNA.”
Gannett’s publishing unit will keep the Gannett name and include flagship paper USA Today, local national publications and Newsquest, a U.K. regional news provider.
As part of the split, Gannett launched USA TODAY Media Network, the “largest local-to-national media network in the U.S.,” according to the company.
“With more than 4,000 journalists across digital and print publications in more than 110 markets across the U.S. and U.K., plus the national reach of USA TODAY, Gannett is uniquely positioned as a next-generation media company,” said CEO Robert Dickey.
“Together, we are moving forward as one unified organization with a commitment to strengthening and forging connections in every community that we serve. Over the next year, we will continue to innovate and invest in this network, push the boundaries of storytelling and how it’s experienced and diversify our offerings. We are proactively building a future in which media feels more personal, drives action and adapts to ever-evolving technologies and needs.”