New York, October 22, 2015 -- Moody's Investors Service says that TEGNA Inc.'s ("TEGNA") announcement on October 20, 2015 of its plan to redeem up to $180 million of its 7.125% notes due 2018 with the majority of the $270 million in proceeds from the recent sale of its headquarters building is credit positive given the annualized interest cost savings of roughly $13 million and improvement in leverage and other credit metrics, but there is no immediate impact on debt ratings. The company also announced a $75 million increase in its share repurchase program to $825 million ending June 2018.

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