Gannett Co., Inc.NYSE
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  • Wed, Oct. 12, 4:29 PM
    • Gannett (NYSE:GCI) declares $0.16/share quarterly dividend, in line with previous.
    • Forward yield 5.79%
    • Payable Dec. 19; for shareholders of record Dec. 5; ex-div Dec. 1.
    | Wed, Oct. 12, 4:29 PM
  • Wed, Oct. 5, 5:01 PM
    • Gannett (GCI +0.3%) has acquired Golfweek, the latest in a growing string of purchases for the national newspaper publisher.
    • The company will place Golfweek in its USA Today Sports Media Group, with a goal to "accelerate Gannett’s efforts to be a leader in the golf vertical by adding Golfweek to For The Win! Golf and USA Today Golf and the Network's more than 5 million unique monthly avid golf fans."
    • Golfweek has produced event programs for some of the sport's biggest tournaments, and USA Today Sports Media Group is an official media partner of the PGA Tour.
    • Its headquarters will remain in Orlando, Fla., but it will have offices in New York, Los Angeles and at Gannett HQ in McLean, Va.
    | Wed, Oct. 5, 5:01 PM | 3 Comments
  • Tue, Oct. 4, 3:37 PM
    • With a buyout deal supposedly imminent yesterday, Gannett (GCI +0.4%) and publisher Tronc (NASDAQ:TRNC) are said to have bridged their differences on Tronc's value.
    • A few key details mean the deal's not close, though, Bloomberg reports. Gannett is also reportedly in talks to raise financing from Jefferies Group.
    • A deal after months of hostility would be the latest in a string of acquisitions for Gannett, including Journal Media Group (publisher of the Milwaukee Journal Sentinel) and the North Jersey Media Group (publisher of the Herald News and The Record).
    • Earlier offers for Tronc (then Tribune Publishing) of $12.25/share and $15/share were rebuffed; the two sides are reportedly in line at $18.50-$19/share. TRNC is holding steady at $17.49 today.
    | Tue, Oct. 4, 3:37 PM
  • Mon, Oct. 3, 9:25 AM
    • Tronc (NASDAQ:TRNC) -- the company formerly known as Tribune Publishing -- is up 3.7% on reports that a confirmed deal to be bought out by Gannett (NYSE:GCI) could arrive this morning.
    • Gannett has been rejected multiple times in its acquisition hunt, but elected to continue on an unfriendly basis. But Politico reports that asset purchase agreement drafts have been exchanged between the two.
    • And Tronc held a meeting Thursday that was likely focused on the sale.
    • The new bid is likely at $18.50-$19/share, Politico says, only slightly higher than the quietly raised offer said to be in the mid-$18 range at the end of August. Tronc is quoted at $17.50 this morning after closing at $16.88 Friday.
    | Mon, Oct. 3, 9:25 AM
  • Fri, Sep. 23, 1:45 PM
    • Dallas Morning News owner A.H. Belo (NYSE:AHC) is up 13.8% now after a report from the New York Post that acquisitive Gannett (GCI +1%) is considering a buyout offer.
    • Sources told the Post that such a deal wouldn't affect overtures by Gannett to buy Tronc (NASDAQ:TRNC), the former Tribune Publishing. Belo has about a $150M market value and Gannett could still pay $1B for Tronc.
    • Gannett has scheduled a special board meeting for next week, a source told the Post.
    • Any sale would likely need to convince not only Belo Chairman/CEO James Moroney, but bigger stockholder Robert Decherd (Moroney's cousin), as well as Decherd's sister Dealey Herndon.
    | Fri, Sep. 23, 1:45 PM
  • Wed, Sep. 14, 5:43 PM
    • Having closed in July on its acquisition of the North Jersey Media Group, Gannett (GCI -0.7%) is now laying off more than 100 of that unit's employees.
    • The company says the moves are necessary to preserve the financial sustainability of the group.
    • Gannett's Tom Donovan says layoff notices are going out to 426 company employees this week; of those, more than 200 newsroom employees and about 60 in sales will remain with the company.
    • The North Jersey Media Group publishes The Record (Bergen County), the Herald News, a group of community newspapers and NorthJersey.com.
    | Wed, Sep. 14, 5:43 PM
  • Tue, Sep. 13, 6:41 PM
    • Gannett (NYSE:GCI) has led a series C investment round in digital media firm Digg, with an eye toward leveraging its data sources and curation.
    • Digg, once a key Web content aggregator, has begun using proprietary data to start integrations with such platforms as Facebook Messenger and Slack. Gannett will supply local content from its USA Today Network to aid "personalization and geo-targeting content" for its users.
    • Gannett's amount is said to be in the seven-figure range.
    • Digg has a Web, mobile and social audience of 40M/month; USA Today Network claims more than 100M unique digital visitors each month.
    • Meanwhile, USA Today Network says it's investing in video, starting with three new positions focused on distributing video content across several of its verticals. Former Yahoo Studios chief Russ Torres will join as VP of digital video content and strategy Sept. 26.
    | Tue, Sep. 13, 6:41 PM
  • Tue, Aug. 30, 11:04 AM
    • Gannett (NYSE:GCI) will start trading without $0.16 quarterly dividend declared on July 19.
    • Investors who hold the stock before Sep 1 are entitled to receive the dividend.
    | Tue, Aug. 30, 11:04 AM
  • Mon, Aug. 29, 2:31 PM
    • Gannett (GCI -1.8%) has tapped two leaders for its North Jersey Media Group, the organization it acquired in early July.
    • The company has named Nancy Meyer president of the group, which publishes The Record (Bergen County) and the Herald News as well as NorthJersey.com and other state newspapers.
    • It also named Rick Green editor and vice president for news. He's currently president and publisher of Enquirer Media in Cincinnati.
    • Meyer is former publisher and CEO of the Orlando Sentinel Media Group.
    | Mon, Aug. 29, 2:31 PM
  • Fri, Aug. 26, 11:40 AM
    • Shares in Tronc (NASDAQ:TRNC) -- the former Tribune Publishing -- are up 6.9% on a report of a quiet higher takeout offer from Gannett (GCI -0.6%).
    • That new offer is in the mid-$18/share range, Politico says, adding that Tronc's board met last Thursday in Chicago to consider a formal counteroffer. Tronc shares are up to $17.46 today.
    • Such a new bid would be significantly higher than the $15/share offer reported at the beginning of the summer. Tronc may push for a counter of around $20/share -- a rich premium but one that Gannett (which expected to raise bids over its initial $12.25/share) might accept.
    | Fri, Aug. 26, 11:40 AM | 3 Comments
  • Tue, Aug. 9, 10:45 AM
    • Gannett (GCI -1.6%) has closed on its acquisition of online marketing firm ReachLocal (NASDAQ:RLOC) and made it a wholly owned subsidiary, with an eye to boosting digital revenues.
    • Gannett had launched a cash tender offer in a deal valued at $156M in June.
    • The tender offer was completed at midnight last night followed by a merger; about 92.16% of outstanding ReachLocal shares had been validly tendered.
    • The deal should be neutral in the first full year and slightly accretive to EPS in the second full year, the company says. "The addition of ReachLocal's market-leading digital marketing services and solutions will increase our overall digital revenues by roughly 50% and we expect that our overall digital revenues will now approach $1 billion in 2017," says Gannett CEO Robert Dickey.
    | Tue, Aug. 9, 10:45 AM
  • Mon, Aug. 1, 5:57 PM
    • Gannett (NYSE:GCI) has extended its $4.60/tender offer for the shares of ReachLocal (NASDAQ:RLOC) to the end of next Monday, Aug. 8.
    • That offer had been set to expire at the end of this Friday, Aug. 5. But Gannett is allowing time for some revised disclosures in the deal.
    • Gannett says its depositary advised that as of 4:30 p.m. Friday, some 42.1% of outstanding RLOC shares had been validly tendered.
    • RLOC gained 0.4% today to close back at the $4.60 deal price; Gannett closed down 2%.
    | Mon, Aug. 1, 5:57 PM | 3 Comments
  • Fri, Jul. 29, 12:47 PM
    • Online marketing firm ReachLocal (RLOC +0.4%), in the midst of being acquired by Gannett (GCI -0.3%), beat revenue expectations despite a Y/Y drop-off in revenue that still improved on Q1 numbers.
    • Revenue of $81.5M fell off 17.5% but beat an expected $79.8M. A net loss (GAAP) of $0.14/share was in line with expectations.
    • Adjusted EBITDA grew to $5.5M from a year-ago $715,000, and beat expectations for $3.7M.
    • Revenue by U.S. channel: Direct local, $43.9M; National Brands, Agencies and Resellers, $15.5M. Revenue by international channel: Direct local, $18.5M; NBAR, $3.5M.
    • At quarter's end, the company had 16,000 active clients (down from 19,500), and 27,700 active product units (down from 29,600).
    • Press Release
    | Fri, Jul. 29, 12:47 PM | 1 Comment
  • Wed, Jul. 27, 12:48 PM
    • Gannett (NYSE:GCI) has tumbled 9.7% and finding its lowest point in nearly a year after Q2 profits fell as expenses piled up.
    • The acquisition-heavy company missed on top and bottom lines despite growing revenues 3%. In the quarter, it wrapped a $261M deal for Journal Media Group and came to a deal to acquire ReachLocal, and it recently completed its acquisition of substantially all the assets of North Jersey Media Group.
    • Revenue breakout: Advertising, $409.8M (down 0.2%); Circulation, $287.6M (up 8.2%).
    • Total operating expenses rose 6.9% to $724.8M. Revenues saw a negative impact from reporting some third-party digital ad sales (mainly at Cars.com and CareerBuilder) as well as unfavorable forex and "$9.7M of selected exited operations."
    • Seeing the success of acquisitions, it's now forecasting second-half revenue growth of 7-9% Y/Y, along with capex of $30-$40M (excluding real estate) and an effective tax rate of 34-35%.
    • Press Release
    | Wed, Jul. 27, 12:48 PM | 3 Comments
  • Wed, Jul. 27, 8:52 AM
    • Gannett (NYSE:GCI): Q2 EPS of $0.30 misses by $0.01.
    • Revenue of $748.79M (+3.0% Y/Y) misses by $19.68M.
    • Press Release
    | Wed, Jul. 27, 8:52 AM
  • Tue, Jul. 26, 5:30 PM
    | Tue, Jul. 26, 5:30 PM | 9 Comments