TEGNA Inc (NYSE:TGNA) Q2 2020 Earnings Conference Call - Final Transcript

Aug 10, 2020 • 10:00 am ET


TEGNA Inc (NYSE:TGNA) Q2 2020 Earnings Conference Call - Final Transcript


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Good day and welcome to the TEGNA Second Quarter 2020 Earnings Call. [Operator Instructions] Our speaker for today will be Dave Lougee, President and Chief Executive Officer; and Victoria Harker, Chief Financial Officer.

At this time, I would like to turn the call over to Doug Kuckelman, Head of Investor Relations. Please go ahead.

Doug Kuckelman

Thank you. Good morning, and welcome to our second quarter 2020 earnings call and webcast. Today, our President and CEO, Dave Lougee; and our CFO, Victoria Harker, will review TEGNA's financial performance and results. After that, we'll open up the call for questions. Hopefully, you've had the opportunity to review this morning's press release. If you've not yet seen a copy of our release, it's available at tegna.com.

Before we get started, I'd like to remind you that this conference call and webcast include forward-looking statements, and our actual results may differ. Factors that may cause them to differ are outlined in our SEC filings. This presentation also includes certain non-GAAP financial measures. We have provided reconciliations of those measures to the most directly comparable GAAP measures in the press release.

With that, let me turn the call over to Dave.

Dave Lougee

Thank you, Doug and good morning, everyone. In the middle of the ongoing COVID-19 pandemic, our second quarter performance reflects the resilience of our employees as well as TEGNA's ability to execute on our five-pillar strategy. I remain incredibly proud of all of our colleagues across the country for serving and supporting our viewers, customers, and each other during these extraordinary times, as we continue to work to create long term value for all our shareholders as well as all of our stakeholders.

Obviously, the second quarter was a profound time in our country. The death of George Floyd in Minneapolis is, we believe, a seminal moment of clarity regarding systemic racism in our country and TEGNA is right at the epicenter. KARE-11, our station in Minneapolis, rose to the occasion with balanced and nuanced coverage, with many of our journalists there working night and day, often in very trying conditions. We have major stations in most of the cities with the largest amount of protests and public engagement, including, but not limited to, Atlanta; Louisville, Kentucky; Portland, Oregon; Seattle; Washington, DC; and of course, Minneapolis.

In those markets and others, our journalists covered the demonstrations and brought their communities together, creating greater awareness of racial issues and facilitating honest discussions about race and inequality through both daily news as well as many significant prime time specials. Throughout their coverage, they remained committed to highlighting diverse viewpoints while their communities, and the nation, searched for answers, knowledge and understanding. I want to thank our journalists for their courage, their thoughtful and nuanced coverage and their ongoing commitment to their communities.

Diversity and inclusion are core company values, but we're taking further proactive steps to address and combat systemic racism in our country, especially given the platforms we have. Among many things, this includes better systems of