Tegna reports 5% drop in revenue

Tegna announced its second-quarter financial results Aug. 7, 2025, which showed a 5% dip in revenue, which it attributed to the drop in political advertising revenue following the 2024 elections and a hit to its advertising and marketing services offerings.

“We delivered on our financial commitments this quarter while making important progress on the strategic initiatives that will shape Tegna’s future, including accelerating our technology roadmap and expanding our local news coverage by 100 hours a day,” said Mike Steib, CEO, in a statement. “Our focus remains on reinventing how we operate and how we serve our audiences – by investing in local journalism, compelling content, and digital experiences.”

All told, revenue was down to $675 million, which was in line with previously announced guidance, which took into account cyclical even-to-odd year comparisons, which reflect when more key elections are held.

The company saw distribution revenue stay flat at $370 million due to subscriber declines, offset by contractual rate increases. AMS revenue, meanwhile, was down 4% to $288 million, driven primarily by ongoing macroeconomic challenges, partially offset by growth from local sports rights.

Tegna also managed to decrease key operating expenses by 3%, to $553 million, or 3% to $549 million for expenses excluding categories such as non-cash and “irregular” costs.