TV station group Tegna said 'the full impact of the COVID-19 pandemic, particularly with regard to the broader advertising industry, remains uncertain.' It is setting 'cost saving measures to reduce expenses,' among other reactions to the crisis. Details:
"We continue to carefully monitor business impacts and to be diligent in implementing cost saving measures to reduce expenses and reducing non-critical capital expenditures," the company says.
"We continue to carefully monitor business impacts and to be diligent in implementing cost saving measures to reduce expenses and reducing non-critical capital expenditures," the company, which has 62 stations in 51 markets and reaches 39 percent of all U.S. households, also said. "We continue to implement prudent capital structure management and focus on managing our costs."
Tegna also unveiled preliminary financial results for the first quarter, saying it "expects to achieve previously issued guidance for all first-quarter metrics.
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