When financial historians look back at the final three months of 2020 and take a microscope to the broadcast media sector, they’ll likely notice one very clear delineation point between those companies focused on audio content and their brethren with a lens on visual fare.
Radio station owners, even with political bumps that bolstered earnings, still suffered from steep double-digit revenue and profit dips in Q4.
Television station owners, thanks largely to retransmission consent fees and political ad dollars, took to their collective surfboards and collectively rode the high surf caused by COVID-19 across October, November and December 2020.
Add TEGNA to the list of companies that navigated the waves smoothly.
