Furloughs Hit Tegna TV, Radio

Dave Lougee, president and CEO of Tegna, sent an email to employees Monday announcing companywide weeklong furloughs to be taken in the second quarter of this year.

Lougee said while the TV stations have seen big gains in audiences on all platforms, “many businesses have decreased or in some cases pulled their current advertising and marketing campaigns because of COVID-19.”

The company is implementing a “one week furlough for most employees to be taken between the week of April 20 and the week of June 26. In lieu of one-week furloughs, news directors and station heads of technology will receive a commensurate 8% temporary pay reduction and general managers and corporate senior vice presidents and above will receive a 20% temporary pay reduction.”

Dave Lougee

"In lieu of one-week furloughs, news directors and station heads of technology will receive a commensurate 8% temporary pay reduction and general managers and corporate senior vice presidents and above will receive a 20% temporary pay reduction," Lougee wrote, adding that he and Tegna's board will take a 25% pay cut in April, May and June.

Virginia-based Tegna Inc. owns 62 television stations and four radio stations in 51 markets.

Apollo Global Management Inc. and Gray TApollo Global Management Inc. and Gray Television Inc. have separately dropped pursuits of a Tegna takeover amid the pandemic.

Tegna had been the target of several suitors who said they were interested in buying the company.

Tegna owns 62 television stations and four radio stations in 51 markets.