Yahoo Finance Tegna Hires NBCU, Google Alum Mike Steib as CEO
TV station group Tegna announced that Michael Steib, a former NBCUniversal and Google exec, will succeed David Lougee as president and CEO.
Steib, 48, will assume the top job at Tegna on Aug. 12, 2024, whereupon Lougee, 65, will become senior adviser to the company after serving as president and CEO for seven years.
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Steib has served as CEO of Artsy, an online platform for discovering and collecting art, since July 2019. Prior to that, he was president and CEO of XO Group, parent company of wedding media brand The Knot. From 2007-11, he worked at Google as managing director of emerging platforms overseeing mobile ads, video ads, Google TV ads, local ads and commerce. Prior to that he spent nearly six years at NBCU, most recently as general manager of strategic ventures. Steib is the author of “The Career Manifesto: Discover Your Calling and Create an Extraordinary Life” and has hosted a podcast on leadership and professional development. He holds bachelor’s degrees in economics and international relations from the University of Pennsylvania.
In addition to Steib’s appointment, Tegna announced that its board has added two independent directors: Catherine Dunleavy, a 16-year NBCU veteran and senior finance and media executive who was formerly president of travel lifestyle brand Away, and Denmark West, who heads market intelligence and strategic engagements at Google’s X, The Moonshot Factory (not to be confused with X, the social network formerly known as Twitter) and previously spent seven years at Viacom, including as president of digital media at BET Networks and chief of operations at MTV Networks (now Viacom Media Networks). Both will join the Tegna board on July 1, 2024.
Tegna owns and operates 64 TV stations in 51 U.S. markets, reaching approximately 39% of all television households nationwide. The company split off from Gannett Co. in 2015. Investment firm Standard General had set a pact to acquire Tegna in 2022 but Tegna scrapped the deal amid regulatory hurdles.
About Steib’s hire, Tegna chairman Howard Elias said, “Mike is a dynamic executive with technology and digital savvy, a passion for local journalism, deep advertising and media experience, a history of developing high performance teams, and a track record of successfully building businesses and driving business model transformation. We are confident he has the broad skill set that will be necessary to chart Tegna’s future at a time of unprecedented change in our industry.”
Steib commented, “I believe deeply in the power of local news to connect our communities and strengthen our democracy. And I am excited about the many opportunities to leverage technology to enhance this service and generate substantial value for shareholders. With strong operations in more than 50 key markets across America, a history of exceptional journalism, strong cash flow, and a talented and passionate team, Tegna is incredibly well positioned to seize this moment and build a bright future for local news and community in our country.”
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