Tegna Sees Revenue Drop

Tegna reported their earnings and the company said that revenue is down 3%.

Their retransmission fees were down 7%. The company says that the reason for that was primarily due to subscribers cutting the cord.

Tegna added that the retrans lost could have been worse, but they partially offset by getting cable rate increases.

People are cutting the cord, due to the fact that cable fees are too high, and Tegna’s answer to that is to demand more money from the cable subscribers that are still left.

Oh yeah, this will work out….NOT.