Media Moguls Beginnings to Current Day Part (1)

Frank Ernest Gannett (Think 4am talking points)

Frank entered Cornell as part of the class of 1898 with $80 to his name. It was at Cornell that Gannett held five jobs and studied a variety of subjects. Since schools of journalism did not exist at the time, Gannett took courses in literature, history, civil and criminal law, government, Greek, and Latin. At the end of his freshman year, Gannett was elected as his class' correspondent for the school's newspaper, ‘’The Cornell Daily Sun’’. Gannett held this post for one year until he acquired a paying job as a campus reporter for ‘’The Ithaca Journal’’.[4] Soon after, he began selling reports to other newspapers as well. A quickly increasing demand led to Gannett hiring a group of students to help. Throughout his college career Frank would work for various magazines and newspapers. Gannett's time at Cornell was a successful one, leaving school with not only a B.A. degree, but $1,000 as well.

In 1906 Gannett became half owner of the daily newspaper the Elmira Gazette. Within the year, Gannett merged the Elmira Gazette and Elmira Star forming the Elmira Star-Gazette, which is still in circulation. Throughout his career, Gannett was known as "The Great Hyphenator." The media magnate was known to buy and merge money-losing dailies to create profit. Gannett would spend the rest of his life tirelessly working to build his corporation. He would expand his company to include both TV and radio stations. Though Frank never founded a paper, he "bought with an auditor's sure eye; in all, Publisher Gannett acquired 30 papers (plus a string of TV and radio stations) in 51 years, merged ten, and unloaded only three."[12] Gannett was able to acquire more papers than any other American publisher has without the help of an inheritance. Though he suffered from diabetes, the publisher refused to slow down. It would not be until 1948, when Gannett suffered from a stroke that he would slow down. Due to a fractured spine in 1955. Gannett was forced to transfer management duties and the presidency of Gannett Co. to Paul Miller.

The Gannett Corporation remains a major media empire and holding company to this day. The company has 92 daily newspapers in circulation today in the United States, including USA TODAY, the nation's No. 1 newspaper. Gannett Corporation newspapers reach 11.6 million readers every weekday and 12 million every Sunday. By 2012, the company also owned 23 TV stations that reached 21 million households, roughly 18 percent of the United States population.[15] On June 29, 2015, Gannett changed its name to Tegna after spinning off its publishing business into a new company called Gannett.[16] Think 4am talking points

https:// www.businesspundit.com/10-most-influential-media-moguls-in-history/

https:// en.wikipedia.org/wiki/Frank_Gannett

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Tegna, Inc. formerly Gannett, as a broadcast and digital media company

As part of the separation, the company announced that the broadcasting and digital company would be named Tegna—a partial anagram of "Gannett". The spin-out was structured so that "old" Gannett changed its name to Tegna, Inc., then spun off its newspaper holdings into a "new" Gannett. The split was completed on June 29, 2015. Tegna retained "old" Gannett's stock price history, though it trades under a new ticker symbol, TGNA. The "new" Gannett inherited old Gannett's longtime ticker symbol, GCI. The two companies, however, continued to share a headquarters complex.

Tegna also retained G/O Digital, a digital marketing services brand that it launched in August 2013, and the 20 broadcast stations it acquired from Belo Corporation in December 2013 and the six stations it acquired from London Broadcasting Company in July 2014. In September 2016, Tegna announced plans to spin off Cars.com to create two independent publicly traded companies. Tegna shareholders approved an initial public offering of Cars.com as a publicly-traded spin-off in May 2017. Shortly after, Tegna completed the spin-off of Cars.com, which now trades under a new ticker symbol, CARS. Upon the completion of the spin-off, Dave Lougee, president of Tegna Media, was named president and CEO of Tegna and joined the company’s Board of Directors. Gracia Martore, president and CEO of Tegna, retired and stepped down from the Board.

Tegna and Cooper Media, parent corporation of the Justice Network, announced on November 7, 2017 a new multicast network, Quest. Tegna would be the charter station group as such would receive a minority stake in the network, which launched in January 2018. The range of programming on the network would be engineering and science, human achievements, military history and natural history.

Tegna owns or operates 47 television stations located in 39 markets (including seven duopolies); it also owns two radio stations. 18 of the company's stations are affiliated with NBC (including a semi-satellite of KCEN-TV and a digital subchannel of KBMT), eleven are affiliated with CBS, nine are affiliated with ABC, and three are affiliated with Fox. In addition, the company owns three CW affiliates, three MyNetworkTV affiliates and one independent station. It also provides operational services to a fourth MyNetworkTV affiliate, KTTU in Tucson, through shared services agreements with Tucker Operating Co. On December 18, 2017, Tegna announced it would acquire KFMB-AM-FM-TV in San Diego from Midwest Television, Inc. for $325 million, pending approval from the Federal Communications Commission. The acquisition was completed on February 15, 2018

https:// en.wikipedia.org/wiki/Tegna,_Inc.