Patrick Paolini Appointed as Tegna's New CEO Amid Merger Challenges
Tegna has appointed Patrick Paolini, a former executive at Fox Television Stations, as its new CEO. Paolini brings 26 years of experience at Fox, where he served as EVP of ad sales. He will officially start his new role on Monday. Tegna and Nexstar announced a $6.2 billion merger last summer, which was approved by the FCC in March. However, a lawsuit filed by DirecTV and several states seeking to undo the deal on antitrust grounds has put the merger on hold.
Mike Steib, the former CEO of Tegna, stepped down after the merger's approval but will officially conclude his tenure on Friday. Paolini's specific responsibilities as CEO are not entirely clear due to the legal challenges facing the merger. He will report to the Tegna board, which includes Nexstar executives. Despite the legal hurdles, Tegna remains committed to providing exceptional service to its viewers, advertisers, and communities.
Paolini's extensive experience in the broadcast television industry, particularly in major-market station management and revenue growth, makes him an ideal choice to lead Tegna. He has a proven track record of driving revenue growth across linear and digital platforms. Paolini expressed his excitement about joining Tegna and emphasized the company's commitment to innovation and expansion in the modern media landscape. Tegna's board praised Paolini's leadership qualities and industry expertise, highlighting his potential to lead the company successfully in the future.