Spin-offSpun off from TEGNA Inc
The two companies
Open either company's hub for its full SEC financials, ratios, ownership, filings, and every other event it's been part of.
- Sector
- Technology
- Industry
- Services-Computer Processing & Data Preparation
- Exchange
- NYSE
- State of incorporation
- DE
- Record date
- May 18, 2017
- Distribution date
- May 30, 2017
- Ratio
- —
- Parent sector
- Television Broadcasting Stations
- Form
- 10-12B/A
- Filed
- May 5, 2017
Financials — parent vs spin-off
SEC XBRL · latest year- Revenue
- $2.71B
- Operating income
- $443M
- Net income
- $220M
- Total assets
- $6.87B
- Equity
- $3.16B
- Revenue
- $723M
- Operating income
- $60M
- Net income
- $20M
- Total assets
- $1.06B
- Equity
- $473M
Latest reported figures from each company's own SEC filings — the parent after the separation and the spin-off as a standalone. Full multi-year history on each company hub.
Spin-off signals
score 1/8 favorable · factors, not advice- Focus-increasingYes — Communication Services → Technology
Spin-offs into a different sector than the parent (pure-plays) have historically outperformed diversifying ones.
- Size vs parent (revenue)~27% of parent
Smaller spin-offs draw more forced selling from holders who can't keep them — the classic mispricing edge.
- Leverage (liabilities/assets)56%
A heavy debt load loaded onto the spin-off is a known risk; a clean balance sheet is favorable.
- Return on capital employed6.3%
EBIT ÷ capital employed — the quality metric the spin-off scorecard research weighs most.
- Operating margin8.3%
Profitability of the standalone business, from its own SEC filings.
- Tax-basis reportNone found
A Form 8937 (basis allocation) accompanies tax-free §355 spin-offs — favorable for taxable holders.
- Insider buying (post-spin)None recorded
Officers/directors buying their own newly independent shares (Form 4) has historically preceded outperformance.
- Time since spin-off9.0 years
Studies find the spin-off return premium concentrates in roughly the first one to three years.
Factors the spin-off research literature (Greenblatt; Cusatis-Miles-Woolridge; Desai-Jain) associates with outcomes — computed from this company's own SEC filings, shown as factors, not a recommendation. The premium is debated and not guaranteed. How we compute these ↗
Filings & documents
Every entry traces to SEC EDGAR. The Information Statement is the primary source; the links below open the full filing and each company's complete filing history.