United States securities and exchange commission logo
May 6, 2024
David T. Lougee
Chief Executive Officer
TEGNA INC
8350 Broad Street
Suite 2000
Tysons, Virginia 22102-5151
Re: TEGNA INC
Form 10-K for the
fiscal year ended December 31, 2023
Form 8-K filed
February 29, 2024
Response dated
April 15, 2024
File No. 001-06961
Dear David T. Lougee:
We have reviewed your April 15, 2024 response to our comment
letter and have the
following comment.
Please respond to this letter within ten business days by
providing the requested
information or advise us as soon as possible when you will respond. If
you do not believe a
comment applies to your facts and circumstances, please tell us why in
your response.
After reviewing your response to this letter, we may have
additional comments. Unless
we note otherwise, any references to prior comments are to comments in
our April 1, 2024 letter.
Form 10-K for the fiscal year ended December 31, 2023
Management's Discussion and Analysis of Financial Condition and Results
of Operations
Free cash flow reconciliation, page 40
1. We note your response
to prior comment 2. Please clarify how changing the name of a
measure used to review
the performance of your business to "Adjusted free cash flow"
reflects its nature
(i.e., as a non-GAAP performance measure). In addition, explain how
presenting this measure
for a two-year period is consistent with the requirement per Item
10(e)(1)(i)(B) of
Regulation S-K to reconcile a non-GAAP measure to the most directly
comparable measure
calculated and presented in accordance with GAAP. Also, as noted
in our prior comment,
help us better understand why you appear to be making cash-based
adjustments to a
non-GAAP performance measure. We refer you to Questions 100.04 and
100.05 in the
Compliance and Disclosure Interpretations on Non-GAAP Financial
David T. Lougee
TEGNA INC
May 6, 2024
Page 2
Measures.
Please contact Morgan Youngwood at 202-551-3479 or Stephen Krikorian at
202-551-
3488 if you have questions regarding comments on the financial statements and
related matters.
FirstName LastNameDavid T. Lougee Sincerely,
Comapany NameTEGNA INC
Division of
Corporation Finance
May 6, 2024 Page 2 Office of Technology
FirstName LastName