TEGNA Inc. announced its fourth quarter and full-year 2024 financial results on February 27, 2025. For Q4 2024, total company revenue increased 20% year-over-year to $871 million, contributing to a full-year revenue of $3.1 billion, up 7% from 2023.
Full-year 2024 Adjusted EBITDA reached $931 million, with political advertising revenue totaling $373 million for the year. While Advertising and Marketing Services (AMS) revenue declined 11% in Q4 due to political displacement and national account softness, digital revenue grew year-over-year, offsetting a slight decline in Premion revenue.
Subscription revenue in Q4 was $357 million, up 5% year-over-year, driven by MVPD contract renewals and contractual rate increases. TEGNA reaffirmed its 2024/2025 two-year Adjusted Free Cash Flow guidance of $900 million to $1.1 billion. For Q1 2025, the company expects total revenue to decline 4% to 7% year-over-year, with non-GAAP operating expenses projected to be flat to up 2%.
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