D.C. Memo: Tegna CEO Says Retrans In Late Innings as Growth Driver

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Retrans: Tenga CEO David Lougee, who is retiring next week, used a baseball metaphor to acknowledge that retransmission consent was no longer a growth story for his company, the third-largest TV station owner by revenue. "The innings of net retrans as the growth driver have certainly come to the later stages there relative to the industy," Lougee told Wall Street analyst yesterday. In the second quarter, Tegna's retrans revenue was down 9% year of year to $375.3 million. The company expects retrans revenue to steadily decline, projecting about a 5% annual loss of pay-subscribers going forward. Lougee, who steps down on Aug. 12, indicated that an FCC controlled by Republicans could help the company restore retrans growth. "Depending on which administration wins, there should be some regulatory relief in the future. Again, I'm not going to put a timeframe on that," he said. Michael Steib, CEO of Artsy, has been named Lougee's successor.