The View Inside Tegna Right Now

If you work at a Tegna station you know…

People are walking around wondering what is going to happen? Will they lose their job? What happens when the sale goes through?

A Tegna insider has given FTVLive a bit of an inside perspective about what is happening.

Here is their take:

Some perspective on the atmosphere inside Tegna following the announcement of the Nexstar deal: among general managers, sales managers, news directors, and digital managers, the prevailing mood ranges from fear to panic to anger. With more than 30 overlapping markets, the outlook is grim for most in leadership. Perhaps Nexstar will spare a few, but optimism is scarce.

The concern extends far beyond management. Significant layoffs are expected across the company. On Nexstar’s call, the word “synergy” was used repeatedly—widely understood as shorthand for cost-cutting, consolidation, and staff reductions. Many anticipate the cuts will fall especially hard on Tegna employees.

At the same time, frustration is mounting toward Tegna’s chief executive, Mike Steib. For the past year, he has promoted a strategy to build the “station group of the future,” with a focus on digital expansion. That message was accompanied by structural changes, including the creation of new regional vice president roles. Yet many inside Tegna now view those moves less as strategic innovation and more as window dressing ahead of a sale.

In hindsight, Steib’s hiring of executives with M&A pedigrees was less about building the future and more about preparing the exit. Employees say they feel misled, even betrayed. The real cost will be borne by the rank-and-file — the reporters, producers, sales teams, engineers, and support staff who keep the stations running.

While Mr. Steib may depart with a generous exit package, the people of Tegna face an uncertain and painful future.