Tegna Rakes in Money, Still Plans on Furloughs

Tegna says that in the first quarter of the year, the company’s revenue is up 32% to $684 million bucks.

Tegna is set to report its earnings on May 7th.

“Tegna is managing through today’s unprecedented circumstances - and is well-positioned to continue to deliver long-term value to Tegna shareholders,” said CEO Dave Lougee.

Despite the fact that Tegna’s revenue is up over 30%, the company is still going ahead with plans to furlough employees staring now through June.

“The intermediate and longer-term drivers reflected in our first-quarter results, including strong subscription and political revenue as well as the continuing benefit from recent additions to our strategically constructed portfolio, are poised to deliver significant value over time for Tegna shareholders despite near-term uncertainty,” Lougee said.

Seems like Tegna is much more interested in the shareholders than the employees.

At least, that’s how I see it.

H/T B&C

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